As short sales become more of a norm, Fannie Mae is improving it’s systems to work with more borrowers. You can get an idea of the men behind the curtain with this short video of Marcel Bryer who is the VP of Fannie Mae. Contact Me To Discuss A Short Sale!
While you have most likely heard of banks approving short sales without the mortgage holder being behind on their payment, the knowledge of how this is done is still a mystery. Bank Of America’s Short Sale Executive, Kim Dawson gave us basic window today in to when this would NOT be approved during her online [...]
To convey a property to a purchaser the title must be free and clear from an liens…. Period. However, it is not uncommon for a short sale listing to have a lien against it. A home owner is most likely aware if an HOA, company, or the IRS has a lien against them. If they [...]
When selling short, the lender that is taking the loss has a vested interest in making sure that they are getting market value for the property. One of the pre-cautions most of them put in place is making sure that the contract is within “Arms Length.” To ensure this, most banks will have the buyer [...]
There has been millions spent to refinance home loans over the past couple of years. The program most well known is called Making Home Affordable. The question is…. Do you qualify??? Before you get too involved, the number one criteria is that your loan is owned by either Fannie Mae or Freddie Mac. If you [...]
