On the heels of last week’s post on a similar topic, Fannie Mae and Freddie Mac are working to bring the decision time on short sales down to 30-60 days. This would be for sellers with loans that are backed by either Freddie or Fannie.
Short sales are a very effective last resort to saving a house from foreclosure, and have less of a negative effect on the seller’s credit.
When we help sellers by performing short sales, we negotiate directly with the banks to achieve the desired outcome.
Sometimes short sales can take a while depending on which bank it is, so this is welcome news!
You can reach us at 205-390-1050 or check us out at www.WeBuyBham.com if you have a house you need to save from foreclosure and would like to learn more about short sales.