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Fannie and Freddie set time limits for short sales

Real Estate Agent with Keller Williams Southern Arizona

Short sales have definitely earned the right to be called the oxymoron of real estate.  I mean really, what is short about short sales?  The price, well not when the BPO comes back high, and assuredly not the length of time to get an approval or communication from the lender servicer.

Who decided it should be called a short sale anyways?  Why not a negotiated setllement, which is what it truly is, or perhaps the bane of real estate agents for 2012??  That would've been some foresight!

So the good news, FNMA and FHLMC have committed to specific turn times when it comes to responding to and approving or denying short sale transactions that are backed by fannie mae and freddie mac owned loans.

Read the entire DS News article here

This is great, but how do you know if you have a fannie or freddie loan?

Fannie Mae loan lookup tool

Freddie Mac loan lookup tool

Or you can always call us at 520.477.0758 or Contact us for short sale assistance

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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I will bookmark this post and check out the links. I have heard of the changes.

Apr 18, 2012 11:50 PM
Chris Miller Nevada Land with Water Rights
Vegas Grand Realty and Property Management - Mesquite, NV
Land with Water Rights For Sale

Too bad the government can not fix the market or the prices. Time for them to leave these markets alone and give them time to heal.

Apr 18, 2012 11:59 PM