Short Sale Guidelines Help!

Short sale guidelines f differ depending on who the investor on the note is, potential mortgage insurer, and what type of short sale program the account must be reviewed for. There are a few distant investors, mortgage insurer’s, and programs that a short sale may fall into, please see the following below:

Pre-Foreclosure Sale Program (FHA Short Sale)
United States Department of Agriculture (USDA Short Sale)
Veteran Administration (VA Short Sale)
Fannie Mae ( FNMA Short Sale )
Freddie Mac ( FHLMC Short Sale )
Private Investor
Home Affordable Foreclosure Alternative Program (HAFA Short Sale)

The mortgage servicer follows the short sale guidelines for the respective programs and investors regulations. At times depending on who the investor is, the servicer may be delegated to impose guidelines as well. All of these programs have their own set of rules for borrower eligibility for short sale review and approval. Knowing short sale guidelines ahead of time can be the difference between structuring a deal for success the first time or in getting stuck in the run around with a mortgage servicer.

If you would like more information on the short sale guidelines for a specific program or investor, please fill out the form below for immediate assistance.

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