Sarasota, Florida - With new short sale rules in place, short sales are now a simpler solution for many military members in Florida and throughout the U.S.
In the past, members of the military might gone into foreclosure after receiving orders to transfer bases and being forced to maintain two homes simultaneously. Now the Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac will allow military members to sell their home as a short sale if they are current on their mortgage.
Usually, a homeowner has had to prove a standard “hardship” such job loss, divorce or illness in order to qualify for a short sale. With the new policy, a military order to transfer bases will be considered a qualifying hardship for short sale approval. As a result, members of the military will be able to sell their homes for less than what they owe on their mortgage, and the lender will accept being “short changed.”
As Sarasota, Florida short sale experts, we are very pleased that those who serve our country will be able to “move on” with dignity through short sales and find relief from financial hardship. We have helped many Florida homeowners negotiate short sales and avoid the financial or emotional damage of foreclosure.
If you or someone you know is facing foreclosure in Florida, contact us to see if you qualify for a Florida short sale.