Freddie and Fannie will allow short sales for nondelinquent borrowers.

Thursday, October 25, 2012

Short sales are soon to be a key solution for most homeowners. Starting November 1st. Freddie Mac and Fannie Mae will allow homeowners that never missed a payment to short sale their proprieties. This new rule will help borrowers slightly underwater to protect their credit scores and get rid of the debt when a hardship situation happens.
The solution is a fantastic tool to avoid foreclosure or bankruptcy and skip the terrible credit results of these legal situations.
According to Inman News, "officials at the Federal Housing Finance Agency, which oversees Fannie and Freddie are in discussions with the credit industry to explore ways to fix the credit score problem for those who haven’t missed a payment but undergo a short sale.
If you are contemplating to short sale, we can help. Please contact Fernando Pettineroli, listing agent: (941) 275 9111 or click here to fill the contact form.

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