Agent Short Sale Secrets coaching clients….important new information about short sales…(you will love this)

Fannie Mae is PRE-APPROVING short sales. In other words, when you take the listing the short sale will be already approved! For those of you not yet listing and selling Short Sales grab our just released, freshly updated book…Agent Short Sale Secrets. Here is the link to download your free book.

Fannie Mae has launched pilot projects in Phoenix and Orlando intended to reduce foreclosures by pre-approving short sales, agreeing on a price and the loss it will take prior to a deal even being made. It is hoped the program will improve the popularity of short sales among real estate agents.

Fannie Mae’s new program translates to faster sales…..

Property professionals initially had welcomed short sales but soon found the process to be a frustrating one–due to squabbling about the sale price and slow approval times by the mortgage companies–that often ended with no sale at all.

Fannie Mae’s pilot will focus on homes that are listed at less than the mortgage balance and carry a Fannie Mae-backed loan serviced by Countrywide Financial Corp.
If it proves successful, the concept could be expanded to other geographical areas and additional lenders. There are concerns, in the meantime, about the program’s success, with real estate agents noting that property prices could decline before the pre-approval is issued.

Popularity: 2% [?]

Similar Posts:

1. ZERO Percent 100 Year Mortgages? | Coming In 2009..100 Year Loans | Realtor Coaching And Training | Future Interesting article sent in from a...
2. 2010 IS the year of the Short Sale | Real Estate Short Sale Training There is no question that after...
3. 2010 IS The Year Of The Short Sale | Harris Real Estate University CDPD Short Sale Training Seth Wheeler, Senior Advisor to the Treasury...