Hey Everyone!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A!
My good friend David Dominguez sent me a great article that I want to share with you. Looks like there are some changes coming from Fannie and Freddie that will help those in need to shortsale their home.
Here’s a quick overview:
The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to align existing short sales programs into one standard short sale program and issue clear guidelines to mortgage servicers. With these changes, Fannie Mae and Freddie Mac will allow homeowners with eligible hardships to sell their home in a short sale even if they are current on their loans. FHFA, Fannie Mae and Freddie Mac are making these changes to help more homeowners avoid foreclosure, keep homes occupied and help maintain stable communities. The streamlined program rules will enable lenders and servicers to quickly and easily qualify eligible borrowers for a short sale.
The programs being aligned are: Fannie Mae’s Home Affordable Foreclosure Alternative (HAFA) and proprietary short sale programs, and Freddie Mac’s HAFA and proprietary short sale programs. The current Fannie Mae and Freddie Mac HAFA programs are modeled on the U.S. Department of Treasury’s Home Affordable Foreclosure Alternative program, but with this guidance, there will be one program offered by Fannie Mae and Freddie Mac — the Standard Short Sale/HAFA II.
Click here for the full report: Short Sales Facts
If you have any questions, or need help with a short sales program, give me a call and let me help you out!
In the meantime … make it another great day!
Your Hard Money Lender in Tucson & Southern Arizona,
Billy A
P.S. I want to be your favorite Hard Money Lender in Tucson and Southern Arizona, so please don’t keep me a secret! If you, your friends or family need help with funding, I’d be happy to give them free information without any obligation. Please give me a call at:
(520) 299-4878!
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