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!!!

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Virginia Winchester City County Winchester
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short sales

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Ambassador
1,075,394
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.

Feb 27, 2010 07:27 AM #1
Rainmaker
1,388,460
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 !

Feb 27, 2010 07:29 AM #2
Rainmaker
338,320
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.

Feb 27, 2010 07:59 AM #3
Rainer
156,545
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.

Feb 27, 2010 08:27 AM #4
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Rainer
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Cindy Greenya

Cindy Greenya
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