New Short Sale Guidelines Beginning in April

By
Real Estate Agent with Century 21 Redwood Realty

I just watched this video from NAR on the changing short sale guidelines beginning April 5th.  I'll be interested to see how this all works out and the actual practicality of it all but I'm thrilled that we are starting to see some much needed changes.  I currently have a short sale with Bank of America that has been under contract since August and we still do not have a bank approval.  Definately watch this video!  It's good stuff!

 

http://link.brightcove.com/services/player/bcpid1785312249?bclid=1740033302&bctid=62463754001

Happy Selling!!!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Virginia Winchester City County Winchester
Groups:
Diary of a Realtor
Realtors®
Tags:
short sales

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Ambassador
1,063,695
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
CDPE, Howard County Homes for Sale

Cindy- the length of time that it is currently taken for a short sale is outrageous. Some of the big offenders are the larger banks. They should be held accountable for what they have done to our economy.

February 27, 2010 07:27 AM #1
Rainmaker
1,346,833
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

I know we hear horror stories every day....and thankfully....knock on a rooftop, we have not had that be the case with any lender....keep climibing the lender ladder...go as high as you have to and get an answer...for us, that has been part of the key to closure in less time. Good luck !

February 27, 2010 07:29 AM #2
Rainmaker
337,795
Pat O'Reilly
RE/MAX..214-289-6176 Irving and all of Dallas Fort Worth - Irving, TX

Cindy..if there is no fine print then it is awesome. I hera that the new no waiting 90 days for investors to flip has a lot of fine print involved.

February 27, 2010 07:59 AM #3
Rainer
156,491
Tom Boos
Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI

THis short sale process has got to be "tighten-up" for the good of the entire housing market.  So many Seller's who hope to "move-up" into more expensive housing after selling their current homes are "paralyzed" because of the time required to close on their "short sale" replacement homes.

February 27, 2010 08:27 AM #4
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
14,622

Cindy Greenya

Cindy Greenya
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: