The Boston Area Real Estate Investors Association Message Board › 10/18 Barton Wallace asks - Are short sales possible without a missed payment?
Barton Wallace asks...
"Are short sales possible without a missed payment?"
Yes, they are! And they're going to be easier to do once the newest short sale guidelines kick in on November 1, 2012. FHFA has announced new guidelines for properties with a Fannie Mae or Freddie Mac mortgage. It will allow homeowners with an acceptable hardship to be pre-approved for a short sale even if they are not behind on payments.
Some of the acceptable hardships are things like moving at least 50 miles away for a job, death of a borrower or co-borrower, divorce, or disability. The really great change is that the servicers are being allowed to approve people with those hardships without further approval from Fannie Mae or Freddie Mac! That should speed up the short sale approval process considerably.
This is great news for people who don't want to miss a payment but who owe more than their house is worth and need a short sale.
Want the inside scoop on doing successful short sales?
Don't miss this month's BAREIA meeting!
Barton Wallace will present $uccessful $hort $ales
Click here to listen to a short video from Barton
* Why to do short sales
* How to cash in on the fastest rising segment of real estate
* Upcoming government changes that will increase profitability of short sales
* Successful marketing strategies to find both sellers and buyers
* How to influence the BPO's
* Strategies to get your offers accepted
* Designing the right short sale package to send the banks
* Knowing all the exit strategies
* How to make money with little to no risk
* How to buy dirt cheap with NO competition
* Short Sale "insider" tips
6:30 pm, Thurs., October 18th
Doubletree Suites, 400 Soldiers Field Rd., Boston
Free for members; $25 for non-members