Short sale fannie maej2ee tutorial !956!

Fannie Mae recently announced that the waiting period after a short sale or foreclosure deed will increase from two years to four years. Right now, a homeowner who went through a short sale or foreclosure (deed in lieu of foreclosure, to be specific) must wait at least two years before purchasing another home with a Fannie Mae conventional loan. A: For a short sale, Fannie Mae is a not a party to the listing agreement and does not determine the commission structure. However, a short sale will not be approved if the total commission exceeds 6%. Many short sale agents have noted that the prices of Fannie Mae short sales and REOs seem to be slightly higher than market value. In fact, even savvy short sale negotiators sometimes have problems with valuation disputes on Fannie Mae short sales. According to the Internet buzz, Fannie Mae would prefer foreclosure over short sale. Foreclosure Tutorial: RealtyStore's Guide to Distressed Real Estate, Foreclosures, and the Foreclosure Process. Tweet Widget; Facebook Like; In this section we go into detail about how best to approach this process and conditions needed to push a short sale package through to completion. Short Sale. A Short Sale is an option of a homeowner selling a home for less than the balance on their current mortgages and the mortgagee agrees to a reduced payoff. The bank's decision to allow a Short Sale is typically in lieu of the foreclosure process which can result in heft fees for the bank. Fannie Mae Short Sale Assistance Desk Instructions. The Fannie Mae Short Sale Assistance Desk provides assistance to Realtors in handling post-offer issues that may relate to service responsiveness, the existence of a second lien, or issues involving mortgage insurance. Fannie Mae will be expanding its HomePath Short Sales website, which was created to help real estate professionals complete short sales. The website is available to real estate professionals who are working on a short sale involving a Fannie