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dave_donhoff

Investor Report: Fannie Mae and Short Sales

dave_donhoff
15 years ago

Investor Report: Fannie Mae and Short Sales

by Kenneth R. Harney



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<_snip_>
Here's some good news for investors interested in 'short sales' -- that's where home owners who can't afford their mortgages sell their houses at substantial discounts, often below what they owe on the loan.

Fannie Mae, the single biggest player in the American mortgage market, plans to crank up the pace of short sales on properties in its bulging portfolio. Fannie intends to 'streamline' procedures to enable pre-foreclosure sales to speed through what is currently an extended, and often complicated, process.

Fannie says it plans to 'pre-approve' certain short sales--a major change from current practices--and wants to provide higher commission incentives to realty agents who can connect sellers with qualified buyers.

<_>

Cheers,

Dave Donhoff

Leverage Planner

Here is a link that might be useful: Investor Report: Fannie Mae and Short Sales (Video too)

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