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Erica Texada's Blog

By Erica Texada 214.680.4566 | Agent in 75104

New Requirements for Short Sale Timeline

Starting June 15, 2012 homes that are listed for sale, whose loans are backed by Fannie Mae and Freddie Mac, should expect to receive a decision on a short sale offer within 30-60 days.  This is great news for both buyers and sellers.  

Currently Bank of America leads the way with shortest timeline on short sale offer decisions.  They are also allowing the highest number of properties to be sold at a lost. In January of this year Bank of America approved 10,447 short sales.

If you are a seller who is under water on your mortgage contact me today for a market analysis and a sales plan.

For more information on the new timeline please visit Freddie and Fannie Short Sale Timeline. 

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