short sale guidelines: Fannie and Freddie Set Timeline Requirements for Short Sales! - 04/22/12 08:57 AM
Fannie and Freddie Set Timeline Requirements for Short Sales
 
Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days.
 
The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite decisions related to these pre-foreclosure sales.
 
Not only is a short sale an effective foreclosure alternative when home retention is no longer an option, but … (1 comments)