I wanted to share this link with you as it will have an impact on the real estate market.
It’s from Daily Real Estate News, Tuesday, May 29, 2012:
“The short-sale process is expected to get shorter starting June 15. New guidelines issued under the Federal Housing Finance Agency will require Fannie Mae and Freddie Mac to give home buyers of short sales notice of their final decision within 60 days. The new guidelines also will require the mortgage giants to respond to initial short-sale requests within 30 days of receiving an offer from a potential buyer.”
Read the rest of the article here: http://realtormag.realtor.org/daily-news/2012/05/29/short-sale-process-expected-speed-up-in-june
Short-Sale Process Expected to Speed Up in June