Short-Sale News – And it’s Good!

by kenlavertu on June 15, 2012

in General Real Estate, Latest News

In a recent blog article, I shared how the short-sale process isn’t so short. But we got some great news this week when Fannie Mae announced streamlined procedures that will speed up short sales considerably.

The details are a little technical, but the bottom line is lenders now have a 60 day maximum to complete the review. In fact, if the lenders even exceed 30 days, they must report the delay weekly both to the home owner and to Fannie Mae.

I’m excited for the new guidelines because the lengthy process scared away far too many potential customers. The wait is now very reasonable.

Do you have your eye on a particular short-sale? Or perhaps you’d like to shop around a little? Either way, I’m happy to help. Call me today for a list of short-sales –  970.663.7070 – or just for a little advice. I’m happy to help.

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Post by Ken Lavertu

Ken has written 31 articles.

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