New Short Sale Guidelines

Fannie Mae and Freddie Mac have issued new guidelines to the loan services which require that these servicers response to a short sale offer no longer than 60 days after receipt.  This new guideline will help all markets tremendously!  The guideline states that they must respond within 30 days with a decision unless they are negotiating with another party and then they can take up to a maximum of 30 additional days to respond.  By decreasing the time frame for a response hopefully this will help buyer's stay engaged with their offer and not continue to look for other properties while they wait but will also help seller's who are already behind on their mortgage keep the days late down on their credit report and if they are not currently late hopefully keep their credit score intact.  Homeowners that are currently considering short selling their home should contact an experienced agent for more information.  The agents at Help U Sell Central Properties have years of experience in short sales and always keep up on the latest incentives offered by loan servicers as well as guidelines that effect the buyers and sellers in a short sale transaction.  Call us today for more information.