Company executives are reporting FNMA is testing a new "short sale" program aimed at reducing the number of foreclosures by pre-approving sales where homeowners sell their houses for less than the amount owed. How will it work? No one is totally certain yet - but - the plan is to have a branch of the company be responsible for determining an acceptable listing price (for a so-called "short sales") even before a buyer has been found. Is is a smart move? Only time, and submitted offers, will tell.
Labels: Business, Condos, Deals, Finance, Florida, Florida Panhandle, Foreclosure, Investment, Panama City, Real Estate, Short Sale, Vacation
