Short sale process speeds up. Good news for inspectors.

Fannie Mae and Freddie Mac, the nation’s two largest mortgage backers, will implement their new short sale guidelines on June 15. The changes require mortgage servicers to make a decision within 30 days of receiving a short sale offer. They also must consider requests for pre-approved short sales within that same timeframe.

Already speeding up around here. Yesterday I did an inspection for a family who said they were purchasing a short sale home and where less than a month into the process.

I am having more last minute cancels due to mortgage holdups than ever.
My afternoon inspection had to cancel at 7:00 this morning on me.