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Gracy Blog

Short Sale Problems - Part 2
05/15/2012


This is a follow up to the "Short Sale Problems" article published on March 28, 2012. The FHLMC has adopted an alternative for Texas and other states in which title companies are prohibited from executing the affidavit and indemnity described in my earlier transmission. We are beginning to see short sale lenders waiving the requirement that the title company sign the affidavit in exchange for an agreement by that title company not to close a sale of the subject real property for a period of 12 months following the closing of the short sale. While there are grumblings about this in many quarters; we may have a way forward.







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Texas Employment on the Rise