New FHFA Rules Aim to Speed up Short Sales Ty Leon Guerrero of Team1Realty Fairfield CA

New FHFA Rules Aim to Speed up Short Sales Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

1. New rules may speed short salesFannie Mae and Freddie Mac will require loan servicers to respondwithin 30 days to most requests. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

2. Short sales gaining on foreclosuresThe FHFA, which regulates the two enterprises, said mortgage servicerswill have to respond to a short sale offer within 30 calendar days of anoffer, and if its under review longer than that, weekly updates must beprovided. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

3. New federal rules could speed up short-sale processHomeowners can expect a response from their bank on a short-saleoffer within 30 business days, with a final decision taking no more than60 days, if their loan is owned by Fannie Mae or Freddie Mac. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

4. How new short sale rules can help youNew rules intended to make the short sale process faster and easier. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

5. New rules will speed up short salesThe Federal Housing Finance Agency laid out new rules aimed atspeeding up the short sale process, a move that could keep manyhomes from falling into foreclosure. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

6. Freddie and Fannie tell banks to speed up short salesFederal Housing Finance Agency has instructed Fannie Mae and FreddieMac to impose new guidelines which should accelerate short saledecisions. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

7. Soon, those short sales wont take quite so longFannie Mae and Freddie Mac want lenders to act within 30 days ofgetting a short sale offer. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

8. Feds hope new timeline rules speed up short salesStarting in June, when you want to do a short sale to shed mortgagedebt and avoid foreclosure, you may not have to wait for months tohear back from your bank when you submit an offer from a potentialpurchaser. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107

Contact Ty Leon-Guerrero Twitter Facebook LinkedIn Alameda, Contra Costa, Sonoma, Solano, Napa Counties Fairfield, CA 94533 Call Us : 800-533-7107 www.team1realty.com

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New FHFA Rules Aim to Speed up Short Sales Ty Leon Guerrero of Team1Realty Fairfield CA

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New FHFA Rules Aim to Speed up Short Sales Ty Leon Guerrero of Team1Realty Fairfield CA Presentation Transcript