DEED-IN-LIEU FORECLOSURE and Short Sale UPDATES Fannie Mae

Reblogger
Mortgage and Lending with First Time Home Buyer & Down Payment Assistance Specialist in So Cal. NMLS 315238

Original content by George Souto NMLS #65149

Fannie Mae has announced a new updated.  This time they are revising the waiting period for Deed-in-Lieu of foreclosure and Short Sale on conventional conforming loans effective with applications dated on or after July 1, 2010. Fannie Mae's Automated Underwriting System (DU) will be updated to version 8.1 and implemented during the weekend of June 19, 2010 to include these changes. No changes will be made to bankruptcies or strict foreclosure, so the present guidelines will continue to apply.

Below is a breakdown and time periods for the new changes.

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Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Comments (1)

Jay Lloyd
Cape Coral Florida - Cape Coral, FL
Allpro Home Inspection

Great information Brad. I know of an attorney in Ohio that's had success with Deed-in-lieu when the banks wouldn't budge with the homeowner or the Realtor. jay

May 17, 2010 11:11 AM