StartingJune 15, 2012 homes that are listed for sale, whose loans are backed byÂ Fannie MaeÂ andÂ Freddie Mac,Â should expect to receive a decision on a short sale offer within 30-60 days. Â This is great news for both buyers and sellers. Â
Currently Bank of America leads the way with shortest timeline on short sale offer decisions. Â 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.