Real estate blog entries tagged with deficiency judgment by Garrigus Real Estate - Call Now: 1 (888) 9-LIST-IT (Coldwell Banker Kivett-Teeters)

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Home : Blogs : Garrigus Real Estate - Call Now: 1 (888) 9-LIST-IT : Garrigus Real Estate Blog : Tag "deficiency judgment"

deficiency judgment: Why a Short Sale is Better than a Foreclosure - 01/05/10 10:50 PM

Why a Short Sale is Better than a Foreclosure
1. Regarding any future Fannie Mae Loans for a primary residence:
Foreclosure- A homeowner who loses a home to foreclosure is ineligible for a Fannie Mae backed mortgage (FHA insured) for a period of 5 years. Short Sale- A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae (FHA insured) backed mortgage after only 2 years.
2. Regarding any future Fannie Mae loans for a non-primary residence:
Foreclosure- An investor who allows a property to go to foreclosure is ineligible for a Fannie Mae … (3 comments)

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