Weekly Short Sale News - Improved Timeframes?

By
Real Estate Broker/Owner with Broadpoint Properties Cal BRE #01324959

short sale newsEach and every week, there are things going on that impact how short sale agents do their jobs. Some weeks there are big changes to policies that impact short sale processing. Other weeks, there is news about government programs for distressed borrowers.

Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:

New Short Sale Bill Address Problems with Second Lien Holders Because we have all seen to much success with short sale time frames improving after Fannie Mae and Freddie Mac changed there requirements (read: tongue in cheek), a Stockton California Representative brings forth another bill that should speed things up with the second lien holders. Do you think it will improve time frames?

Changes to HAMP Are Slow in Coming Reports show that not all servicers were able to embrace the changes to the HAMP program by the deadline of June 1. How will this impact folks doing loan modifications? Read the article to learn more.

What You Can Learn About Short Sales from the Magic 8-Ball The funny and irritating thing about short sales is that there are so many unknowns. Check out this comprehensive list of all of the not-so-concrete parts of the short sale transaction.

There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard (especially in the summer when you are thinking that a vacation might be good), which is why we’ve provided you with a weekly recap right here.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Shannon Coe 08/01/2012 09:55 AM
Topic:
Mortgage / Finance
Groups:
Short Sale Specialists & Pre-Foreclosure Education
Short Sales Pre Foreclosures Bankruptcy and More!
Realtors®
Short Sales and Forclosures ONLY
Short Sale REALTORS®
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distressed property news
short sale news

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Rainmaker
1,879,665
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the links. I will read them all and #1 is a timely post as I have a new listing with PNC in second position.

July 28, 2012 03:36 PM #1
Rainer
180,033
Tatyana Makarov
Coldwell Banker Residential Brokerage - South Windsor, CT
Your Greater Hartford Area Realtor

Thanks for putting it all together, Melissa,

have a great day.

July 28, 2012 03:45 PM #2
Rainmaker
365,886
Shannon Milligan, Richmond VA Real Estate Agent
RVA Home Team with Jefferson Properties - Richmond, VA
RVA Home Team - Winning with Integrity.

Great info on short sales and you are correct...we must keep up with what is happening to best serve our clients!

Have a nice night!

July 28, 2012 05:31 PM #3
Rainer
18,519
Shellie Alicia Carter
Realty Executives - Jersey City, NJ

Thank you for all of the helpful information.  Changes are (and have always been) a part of this industry.   Being able to keep informed and educated about the process is the key.

 

July 28, 2012 06:38 PM #4
Rainmaker
1,411,161
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Melissa, I give you mucho kudos for helping distressed sellers move to their next goal.   This is the toughest part of real estate, and know you have up-to-date information to help all your clients!

July 28, 2012 07:41 PM #5
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Melissa Zavala

Broker, Escondido Real Estate, San Diego County
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