Real Estate Blog 
New Short Sale Guidelines Coming in April 2010!
Wednesday, December 9th, 2009 at 9:09am. 117 Views, 0 Comments.
For homeowners who are delinquent on their mortgages (primary residence only) or who are in danger of defaulting, the Short Sale has become a popular alternative to foreclosure. With these new guidelines, the process will now be faster and less confusing for everyone. Here’s the basics: · Short sale requests must be either approved or disapproved within 10 days. There’s also going to be less paperwork involved when making the request.· Pre-approved short sale terms are given by the lender before the property is listed, including the minimum net proceeds required by the mortgage lender.· Loan servicers will no longer be allowed to force a reduction in the commission earned by real estate. Commission amounts agreed to in the…