What Is My Home Worth?

Thursday, May 10, 2012

Fannie Mae Short Sale Guidelines

Fannie Mae Short Sale Guidelines:

Fannie Mae has its own set of guidelines regulating short sales of properties in which it holds the mortgage paper. In a short sale, a home sells for less than the amount owed the lender. Often, a short sale can avert foreclosure by the lender, which is usually going to write off the difference once it's sold. Most lenders are actually just servicing these loans, acting on behalf of Fannie Mae in many cases.