tag:blogger.com,1999:blog-63621337437314797602011-07-08T07:08:43.526-04:00This site is designed to update you on the latest information about Richmond Real Estate and where you can get Tips and suggestions for Buying, Selling and keeping your home in this market!Jennhttp://www.blogger.com/profile/15633845936292689036noreply@blogger.comBlogger11100tag:blogger.com,1999:blog-6362133743731479760.post-28286649113453170492010-02-23T08:28:00.001-05:002010-02-23T21:38:29.788-05:00The current Short Sale process is undefined and drawn out. The number of homes listed as pending or under contract is influenced by the number of sellers waiting for an approval from the lien holder. Short sales are challenging and take time (months) I have sold 20 short sale properties in the past 2 years and every bank and process was different. One tip is to be very organized and ask for what you want and find out who can provide answers.<br /><br />The process is getting ready to change…I am excited about this change and hope this will reduce the pressure on all parties.<br /><br />The new rules will have a time line…not the current estimate or the never ending…I need two more weeks for the file to marinate on my desk..The banks must approve or deny in 10 DAYS!<br /><br />The Banks, the mortgage investors, the second mortgage holders and the sellers all will receive financial incentives. This is great news…<br /><br /><a href="http://www.bankrate.com/finance/real-estate/hafa-short-sale-rules-may-help-sellers-1.aspx">For more information </a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/6362133743731479760-2828664911345317049?l=richmondrealestatetips.blogspot.com' alt='' /></div>Jennhttp://www.blogger.com/profile/15633845936292689036noreply@blogger.com0