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Good News For Short Sale Sellers and Buyers

June 12, 2012

According to the article “Timeline Requirements to Support Continued Short Sale Growth” there is good news for those who are looking to sell or buy pre-foreclosure homes/ short sales.  In the first quarter of the year it took on average 308 days to sell a property that was in the foreclosure process, however new guidelines will cut this time by a significant amount. FHFA guidelines set back in April will require that upon receiving an offer servicers will have 30-60 days to make a decision. This deadline will go into effect on June 15, 2012.

 

Follow the link to read the whole article

http://www.dsnews.com/articles/realtytrac-short-sales-hit-3-year-in-first-quarter-2012-2012-06-04?utm_source=ACAR+Update+6%2F4%2F12-Picnic%2C+GG%2CMK+to+GenY%2C+PTT%2C+Lenders+Sniff+Out&utm_campaign=Bulletin+Tracking+6%2F5%2F12&utm_medium=email

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