This article, posted by DSNews, talks about the new guidelines 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. Beginning on June 15, Realtors that are processing short sales should expect to receive a decision from these GSE backed loans in 30-60 days.
This, coupled with Bank of America's announcement to streamline the short sale process to 3 weeks, is great news for distressed homeowners and Realtors that specialize in short sales. It's too soon to tell if they will actually back up what they say but it's a step in the right direction.
Read the full article here http://bit.ly/IWe7Rl
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