Providing No Cost Short Sale Processing For Agents and Homeowners
Dealing with the seller’s lender(s) to complete a short sale can be frustrating enough. Now, due to the spring/summer buying season, the number of refi’s and general economy issues, we are finding it increasingly difficult to get the buyer’s loan approved within the time frame of the short sale acceptance provisions – usually 30 days or less.
Starting March 1, 2009 the loan servicers on Fannie Mae loans cannot require brokers to reduce their commissions as a condition of the short sale approval. Exception is if the total commission is more than 6%. Ask if it is a Fannie Mae loan and if so sendover the Fannie Mae Announcement with the short [...]
NEW YORK, Feb 13, 2009 (BUSINESS WIRE) – “To reiterate the commitment made by Chief Executive Officer Vikram Pandit to the House Financial Services Committee on February 11, 2009, Citi is taking the necessary steps to help American homeowners keep their homes. As part of this commitment, Citi has initiated a foreclosure moratorium on all [...]
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