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This will be very interesting to see how it works out... there are many timelines now that are not followed... hopefully, this will be a successful implementation.

Via Len Malena - OC Realtor (ZipRealty):

Starting June 15, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers a final decision within 60 days. (In a short sale, a lender agrees to accept less than the balance on a mortgage.)

Fannie and Freddie must also respond to initial requests for a short sale within 30 days of receiving the buyer’s submission.

 

It's about time!

Liz Harris, MBA, SFR, CSSN, CDPE

Associate Broker

Clients First Realty, LLC

480-313-3924: Mobile

480-722-7658: Fax

www.LizHarrisRealtor.com

www.facebook.com/ShortSalePro

 


This Active Rain post is sponsored by Mark Taylor, to get your free approval please call 602-361-0707. Please click on the links below to view his AWESOME websites!

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