faster process for short sales: NEW SHORT SALE TIME LINES FOR FANNIE MAE AND FREDDIE MAC SHOULD SPEED UP PROCESS - 04/25/12 07:19 AM
I may be late with the news but in case you haven't heard  NEW SHORT SALE TIME LINES FOR FANNIE MAE AND FREDDIE MAC SHOULD SPEED UP THE PROCESS.
Starting June 15, 2012 if a loan is backed by Fannie Mae or Freddie Mac then the Loan Service Provider, the person you often think of as your Lender, must respond to a SHORT SALE offer within 30-60 days.  If more than 30 days they must provide a weekly update.  During this time they are expected to get their BPO and any approval, for the SHORT SALE, from the Private Mortgage Insurance provider.
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