Broward County Short Sales

Fannie, Freddie To Make Short Sales Faster

Real estate agents know short sales take a long time to complete, and constantly educate the buyers and sellers of the short sale timeline. But now, government-backed housing giants Fannie Mae and Freddie Mac are adopting new guidelines to streamline the process for short sales. Effective June 15,  servicers of mortgages backed by Freddie and Fannie have to review and respond to requests for short sales within 30 calendar days of receipt of a buyer’s offer. The pending Fannie Mae/Freddie Mac guidelines will mandate weekly status updates to the borrower if the short sale remains under review after 30 calendar days. Servicers also will be required to make and then inform borrowers of final decisions within 60 calendar days of receipt of an offer.

Preventing Foreclosures

On average, according to recent data from foreclosure search engine RealtyTrac, short sales are taking 306 days from start to finish, compared with 113 days in 2006 as the housing market started to unravel. But lenders are becoming more accommodating. Hopefully, with these new changes, it will help to prevent foreclosure, keep homes occupied, and help maintain stable communities.  

Thinking of selling your Broward County, FL home? Interested in finding out the current market value of your single-family home, condo or investment property? Give me call today to discuss what is happening in the Broward County real estate market and how I can best serve your real estate needs. I would be happy to give you a personalized comparative market analysis (CMA) and answer all of your questions.

Terri Poehler -Broward County, FL Real Estate Expert – Making it Happen for Home Buyers & Sellers!

Interested in buying a home in Broward, FL? In our inventory, we have a variety of Broward County properties to choose from to fit your individual lifestyle, budget and needs.
Let's talk!
Terri Poehler
RE/MAX Professionals Real Estate
9615 Westview Drive Coral Springs, FL 33076
954-294-3937
Terripoehler@ReMax.net

Terri Poehler

 

5 Comments on Shorter Short Sales

MAY
26
393,067 Points Outside Blog

Is this not the setting you want to come home to living in S. Florida?
6:33am • #1
553,341 Points 147 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Terri, that is great news.  There is little short about a short sale.  Maybe this will be the beginning of a trend.  Have a great weekend!  Nice picture. 
6:34am • #2
585,988 Points 46 Featured Posts Outside Blog Called Shot Master

Shorter Short Sales!  Now that is great news for Buyers, Sellers, Agents and anyone involved with these transactions. 300+ days on average is just ridiculous.  Glad to see the Feds stepping it up.  I want to live in THAT HOUSE!
8:32am • #3
MAY
27
280,727 Points 14 Featured Posts Called Shot Master

Beautiful home Terri! I am glad these short sales are getting shorter. we have worked with many stressed out buyers and sellers in the process 
4:27am • #4
MAY
29
224,294 Points 2 Featured Posts

Winston, thanks for stopping by.

Thaks Mike!

Lol, John. So Would I!!

Frank, yes, real good news.
5:54am • #5


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Terri%20poehler%20in%20active%20rain Rainmaker_large

Coral Springs Real Estate Agent: Terri Poehler

Coral Springs, FL

More about me…

Realtor

Address: Coral Springs, FL, 33076

Office Phone: (954) 294-3937

Cell Phone: (954) 294-3937

Email Me

Terri Poehler is a licensed Realtor (real estate agent) living in Coral Springs, Florida. She can help with new home listings in Coral Springs, as well as throughout Broward County. If you need tips and advice, please visit her blog and learn more.

Author Bio: Terri Poehler earned a bachelor’s degree in Sales and Marketing in MI. Terri Poehler is a real estate professional with ReMax.



Listings

Links

Archives

RSS 2.0 Feed for this blog