Fannie Mae Launches A New Short Sale Website
Fannie Mae and Freddie Mac have revamped their short sale outreach lately. Some of those efforts and changes have resulted in mixed reviews including an apparent new approach to property valuations that has some short sale agents in a stir. As a part of this new effort, Fannie Mae rolled out a short sale website that provides information to the public and short sale agents about the short sale process for Fannie Mae backed loans.
Questions addressed on the site include:
- What is a short sale?
- What is Fannie Mae’s role in the short sale process?
- How do I know if my loan is owned by Fannie Mae?
Importantly, the website also provides real estate agents with an avenue to contact Fannie Mae directly about their short sale file. I have always had great success when contacting Fannie Mae directly. They intend for the short sale file to receive a response after 30 days and if a servicer is not performing they will contact them and ascertain the issue. This new website is another step in the right direction for Fannie Mae short sales.
Before deciding whether a short sale of your home is right for you, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent. If you are considering a short sale of your Central Coast home and would like a complimentary short sale consultation, please call my office to schedule an in person meeting or a telephone consultation at (805) 878-9879.
Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She has successfully completed short sales with Bank of America, Wells Fargo, CHASE , GMAC, Seterus, IndyMac, CitiMortgage, Green Tree Servicing, Specialized Loan Servicing, HomEq Servicing, Wachovia, Coast Hills Federal Credit Union, Select Portfolio Servicing, Fannie Mae, Freddie Mac, and others.
* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Tni LeBlanc and Mint properties are not affiliated or endorsed by any lender or Fannie Mae or Freddie Mac.
Copyright ©2013 Tni LeBlanc *Fannie Mae Launches A New Short Sale Website*
