The Government just Announced that Freddie Mac and Fannie May as of June 15th 2012 will Require Mortgage Servicer's to do the following when a borrower is requesting a Short Sale. 

1. Acknowledge Documentation sent in by Borrower's within 3 business Days.

2. Notify Borrowers within 5 days if additional paperwork is needed to complete the Short Sale.

3. They have to review and respond to the Borrower within 30 days of receiving Documentation.

4. If a Short Sale Decision linger beyond the 30 days they are required to provide a weekly update on the Short Sale to the borrower and or there Real Estate Agent.

 

We applaud the government for getting involved because these Mortgage Servicer's need to be more accountable and it will help the Short Sale process and help people complete a Short Sale. We are experts in Short Sales so please call us or e mail us for a private consultation. We look forward to being of Service.