Home > Blogs > Cindy Greenya > Cindy Greenya's (cindygreenya) Blog

New Short Sale Guidelines Beginning in April

By Cindy Greenya

Real Estate Agent with Century 21 Redwood Realty

February 26, 2010 11:21 PM

I just watched this video from NAR on the changing short sale guidelines beginning April 5th. I'll be interested to see how this all works out and the actual practicality of it all but I'm thrilled that we are starting to see some much needed changes. I currently have a short sale with Bank of America that has been under contract since August and we still do not have a bank approval. Definately watch this video! It's good stuff!

http://link.brightcove.com/services/player/bcpid1785312249?bclid=1740033302&bctid=62463754001

Happy Selling!!!

Re-Blog

Comments(4)

Comment

Show All Comments

Sort:

Ellie McIntire

Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD

Luxury service in Central Maryland

Cindy- the length of time that it is currently taken for a short sale is outrageous. Some of the big offenders are the larger banks. They should be held accountable for what they have done to our economy.

Feb 26, 2010 11:27 PM

Sally K. & David L. Hanson

EXP Realty 414-525-0563 - Brookfield, WI

WI Real Estate Agents - Luxury - Divorce

I know we hear horror stories every day....and thankfully....knock on a rooftop, we have not had that be the case with any lender....keep climibing the lender ladder...go as high as you have to and get an answer...for us, that has been part of the key to closure in less time. Good luck !

Feb 26, 2010 11:29 PM

Pat O'Reilly

RE/MAX..214-289-6176 Irving and all of Dallas Fort Worth - Irving, TX

Cindy..if there is no fine print then it is awesome. I hera that the new no waiting 90 days for investors to flip has a lot of fine print involved.

Feb 26, 2010 11:59 PM

Tom Boos

Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI

Providing the very best of service to Sellers and

THis short sale process has got to be "tighten-up" for the good of the entire housing market. So many Seller's who hope to "move-up" into more expensive housing after selling their current homes are "paralyzed" because of the time required to close on their "short sale" replacement homes.

Feb 27, 2010 12:27 AM