New Federal guidelines that were approved late last year are due to roll out this April. What we should see and are already starting to see is a more standard streamlined process. This means a faster turnaround and approval of aShort Sale.
Icing on the cake is the $1,500.00 incentive that will be paid to the homeowner at the close of escrow. Prior to these new guideline the seller's were required to receive ZERO nada.
Many of the larger bank are already following these new rules. I had a call today from a Temecula homeowner who's mortgage is with Litton Home Loans. They offered him $1,500.00 if he sold his home via the Short Sale and advised him to call a agent to list his home. He went to his computer and searched in Google "Temecula Short Sale Specialist" and found me. I will keep you posted on how this Short Sale flows in future blogs here. I am looking forward to a fast Short Sale Approval for this Temecula homeowner.