NEW Fannie Mae Guidelines On Short Sales….(HUGE Change)
Submitted by Tim Harris on June 27, 2008 – 1:49 pm2 Comments | Popularity: 1% [?]
WOW!
Well, we knew it would happen and it finally has.
New guidelines about short sales that now makes doing a short sale VASTLY better
for the homeowner vs a foreclosure.
Bottom line: If the homeowner sells the home via a shortsale they can’t get a FHA backed mortgage for 2 years.
VS.
Foreclosure: The home owner can’t secure a FHA backed mortgage for 5 years.
Here is the link to the story:
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf
Realtor coaching, real estate coaching, coaching for real estate agents, Realtor coaching classes, Tim and Julie Harris, Harris Real Estate University, Harris Realtor Coaching, Tim and Julie Realtor coaching.
Popularity: 1% [?]
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Thanks for this valuable info.
Thank you for another reason that will encourage owners to short sale their property instead of just “letting it go”. Good information.