Tag Archives: Prevent Short Sale Delays

Under new rules that took effect June 15, underwater borrowers with Freddie Mac- or Fannie Mae-backed loans who sell their homes in a short sale now will receive decisions on whether their short sale is approved from lenders within 60 business days. The new guidelines are viewed as a way to speed the short sale process, which once averaged eight months, according to RealtyTrac. The long wait often had buyers walking away from the deals. But despite the faster deadlines now in place, the process can still be prolonged if […]