According to Fannie Mae and Freddie Mac guidelines, sellers who short sell their homes or do a deed in lieu of foreclosure will be eligible to purchase again within 2 years if there are not late payments. Sellers with late pays will be eligible after 4 years. HUD says borrowers who experience foreclosure or short sales will be eligible after 3 years. So, sellers who bit the bullet early (2007) and let their properties go, may now be eligible for repurchase. Sellers who are interested in owning a home again should contact their REALTOR or local mortgage lender and get a plan in place to get back on the home ownership track. What a great country we live in!
Blooming at Longwood Gardens
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