Fannie Mae Moving to Improve the Short Sale Process in Florida

Fannie Mae has launched a pilot program in 2 cities to improve the Short Sale experience!!

Fannie Mae has launched a pilot program largely in Orlando&Phoenix in order to test a new shortsale procedure.  This pilot program also includes some select homes for sale in the Tampa Bay Florida region also.  I sell homes in Hillsborough, Pasco, Pinellas & Hernando Counties and there are a lot of homes that are included in this pilot.

Fannie Mae determines the amount that they will be willing to accept prior to a buyer presenting an offer.  A quicker response of days and not weeks or months is the goal.  This pilot program is an attempt of Fannie Mae to get Buyers and Realtors more excited about making an offer and thereby also clearing out the preforeclosures so that it doesn't become a bank owned home, or REO.  Currently many realtors avoid taking their customers to see shortsale homes because of the long wait time.

Fannie Mae's pilot program focuses on homes that are listed at below what the loan balance is, is a Fannie Bank backed loan, and is serviced by Countrywide.
 
If the pilot goes well, then the program may be expanded to other geographical areas as well as additional lenders.  That would be a terrific move on the banks' part.

It's a terrific time to consider a home purchase in the Tampa Florida.

Please let me know if you have any questions about a home purchase at these terrific reduced prices.

Warmly,
Stephanie LeFew
Tampa Realtor
Your Shortsale Preforeclosure Specialist
www.TampaHomeBuy.com
813-624-3332