Wednesday, April 25, 2012

The Federal Housing Finance Agency issued a new guidance requiring servicers of Fannie Mae and Freddie Mac loans to speed responses to short sale requests. The guidelines would require servicers to acknowledge receipt of short sale purchase offers within three business days; respond to short sale requests within 30 days (with a possible 30-day extension); and make a final decision within 60 days of receiving purchase offers. Implementation of the new guidelines should begin after June 15, 2012. Mark Slade Keller Williams 917.797.5059 Home Search Mark Slade is Keller William's Mid-Town Direct's Short Sale Agent. Mark got into real estate after being inspired by enduring his own personal Short Sale in 2007-2009. Mark is empathetic to those home owner's behind on their mortgage payments and seemingly paralyzed as to what to do and can provide you with a private and confidential consult to help determine your best course of action--Loan Modification, Short Sale, Deed-in-Lieu,etc. At the same time, Mark is a Realty Trac assigned agent and happy to help any prospective buyer's of short sales. Mark has had success closing Short Sale Transactions in 35 days, although the average time for most Short Sales is about 3-4 months from start to finish.

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