Rolling the Dice With Short Sales - 02/10/09 10:46 AM
Have no illusions.  A short sale is rolling the dice.  Here's why.
The potential for banks not accepting short sales or deeds in lieu of foreclosure may have everything to do with the Pooling and Servicing Agreement (PSA) in which that particular loan is associated with.
Most loans are sold on the secondary market or "pooled" together and sold to be held in trust as collateral for mortgage-backed securities.  The most famous Government Sponsored Enterprisesare Fannie, Freddie, and Ginnie.  Once the loans are considered "non-performing" they, the GSE's can pull money from a multi-million dollar escrow fund to cover their lawyer's … (1 comments)

 
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Jon Tipton, Realtor/Cert. Res.Appraiser with The Duncan Duo & Associates at

Brandon, FL

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RE/Max Dynamic

Address: 4029 Henderson Blvd., Tampa, FL, 33629

Office Phone: (855) 487-7362

Cell Phone: (813) 391-6121

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