A new tool introduced by the lending giant will assist those needing Arizona short sale
Fannie Mae is making it easier to reach them for short sale assistance and approval, via a new tool they introduced called HomePath for Short Sales.
This is one of the lender’s latest efforts to decrease foreclosures and increase short sales, which have a better effect on the community at large. This escalation tool is available to real estate professionals across the country who are handling a Fannie Mae short sale.
Agents and servicers will be able to work with Fannie Mae directly once the short sale is escalated, whether it is during the approval process or when common problems arise, such as disputes over a property value, delays by servicers, or trouble from uncooperative second mortgagers.
This is a great way for Fannie Mae to become more involved in the short sale process, providing help where needed and increasing the number of Arizona short sales that are completed by decreasing the amount of time needed to complete each one. It is a win-win situation for all parties involved and a major benefit toward the recovery of neighborhoods and communities across the country.
Reactions have been positive from the numerous real estate professionals who are already using the HomePath for Short Sales tool. Most are impressed with the swift response time by Fannie Mae – in most cases, a representative will be able to respond within 24 hours. Some short sales have taken as little as two days to complete because of this tool.
Fannie Mae has remained focused on decreasing the time it takes to complete a short sale, and their initiative continues to be to increase the number of short sales that are completed. They will continue to look at ways to reduce short sale timelines, as well as to expand the eligibility requirements and make short sales more profitable for themselves and the borrower.
If you’re looking to Short Sale in Arizona, please call us at 602-741-1602 to see if you can qualify for this Fannie Mae Short Sale Program.
Tracy (G+) is an Arizona Short Sale Realtor, Investor, Rehabber, and Foreclosure Expert.
She also is an avid blogger, vlogger, contributor to the Bigger Pockets Blog, and consultant on all things Arizona Foreclosures.