If at first you don’t succeed, try, try again!
Has your short-sale request recently been turned down? Not a problem. With the new short-sale guidelines taking effect on Nov 1st, you should try again!
According to Rismedia, many sellers get approvals from the same lender shortly after a denial by simply resubmitting the application. Sometimes the difference between a denial and an approval has less to do with the lender than the individual negotiator. It’s likely that you’ll get a different negotiator the second time around. And sometimes lenders change their policies.
The government announced that it’s giving banks “more clear and consistent guidelines making it easier to process and execute short sales.” Homeowners with Fannie Mae and Freddie Mac mortgages now can be approved if they’re still making payments, assuming they have a hardship.
[box type=”info”] NEW Short-Sale Division at Charles Rutenberg Realty. We’ve opened a full-service short-sale division so we can help homeowners face the short-sale process and come out on top. We can help you every step of the way.[/box]
If you have any questions or if you are considering a short-sale, give us a call at 516-575-7500 or email us at info@crrli.net.
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