According to the article below Fannie & Freddie have implemented policies to improve the short sale process for sellers. In reality however, it is still taking way to long for sellers to get out from under the burden of underwater mortgages and move on with their lives.
Buyers who are looking a short sales as a way to have a lower entry point for home ownership are also frustrated with the length of time it takes for approval. We share with buyers that if they have to move within a particular time frame, then short selling may not be a feasible option for them. While attractive because of the pricing, short sales are still the wild west of real estate. We have seen several instances where the bank has foreclosed on a home even though there is a fair market contract on the property. So, buyer beware!
If you are looking to short sale your home – work with a team of Real Estate Professionals who can provide you with honest answers and actually has a high percentage rate of closings. At Atlanta Housing Source, we close dozens a year and have a full team dedicated to getting you to the closing table. For a FREE Consultation – Call 404.886.8789 or Contact US!
SOURCE: National Association of Realtors May 15, 2013 09:23 ET WASHINGTON, DC–(Marketwired – May 15, 2013) – Both Fannie Mae and Freddie Mac have implemented policies to expedite the short sales process, including new resources to help determine property values, according to panelists at a property…