Fannie Mae and Freddie Mac set new timelines for short sale responses

Friday, April 20th, 2012

Good news if you’re thinking of selling or buying a home that’s a short sale.  Beginning in June banks will be expected to make decisions on short sale offers with 30 to 60 days.  Both entities issued new guidelines last Tuesday to make the short sale process quicker and easier for all parties.  Delayed responses […]

Banks sometimes offering cash incentives for short sales now.

Wednesday, February 22nd, 2012

We’ve been watching the trend.  Some banks (not all) are seeing the value in doing a short sale rather than letting a home go into foreclosure.  When a homeowner sees he’s facing foreclosure he stops maintenance on the house or abandons it altogether.  Once a home is vacant bad things can happen.   Now some banks […]

Trying to get a Loan Modification ?

Tuesday, June 28th, 2011

This article from MSNBC really illustrates well the difficulties dealing with banks on loan modifications.  I’ve helped clients with short sales and this story sounds all too familiar.  Banks asking for documents, then asking for the same documents, then dragging their feet for so long that you now have to send them updated documents because […]