New guidelines issued under the Federal Housing Finance Agency will require Fannie Mae and Freddie Mac to give homebuyers 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.
That’s great news for buyers. Since short sales can generally be purchased at as much as 20% below fair market value, with approvals in a timely fashion, they become a great option for home buyers.
With many banks choosing to streamline the short sale process in lieu of foreclosure, the best deals are actually short sales.
Ready to sell your home as a short sale, or find a great deal on a short sale home? Ken Can Help! Shoot me an email at KenCanHelp@gmail.com or visit my website at www.KenHelps.com and start searching for your new home.
For more information on the new streamlined short sale process follow this link: