Short Sale Process Shortened! Michael Ackerman talks Seattle Real Estate.
Michael Ackerman, a Seattle Realtor with Coldwell Banker Bain, blogs about a new federal policy change which could speed up the short sale transaction process. If your loan is owned or securitized by either Fannie Mae or Freddie Mac, starting in June you can expect to get a response from the lender within 30 days of submitting your transaction and a final decision within 60 days. If you do not hear from the lender within 30 days, they will be required to send you weekly updates letting you know where you are in the process and how long it may take you to get a final decision. This is wonderful news for both buyers and sellers! If you have any questions or comments, please send an email to [email protected] or visit www.mackerman.com.