Types of Short Sales—Part Two: Freddie Mac and Fannie Mae

Types of Short Sales—Part Two: Freddie Mac and Fannie Mae

In our last article, we discussed the different types of short sales available and some of the details of the HAFA short sale program, in particular. In this article, we discuss some of the requirements and provisions of the Fannie Mae and Freddie Mac short sales. The Federal National Mortgage Association, often referred to as Fannie Mae or FNMA, offers a short sale program for any mortgages it owns where the "Borrower" is facing the following:

  • is facing a long-term hardship,
  • is behind on mortgage payments,

Click here to read Peter Roach's full article...