Fannie And Freddie Roll Out Their HAFA Short Sale Programs

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Categories: Short Sales & Foreclosures Posted on June 3rd, 2010

Fannie Mae and Freddie Mac have been processing short sales for years. However, when the HAFA plan was released on April 5th of 2010 Fannie and Freddie did not participate.

Yesterday they released their semi complex plans on how they will participate in the program for the next couple years beginning on August 1st of 2010. Similar to the basic HAFA program there are financial incentives for the seller to participate. There is a catch that can be a show stopper. The borrower MUST be disqualified first from using all other home retention workout plans prior to being accepted in to the program. The delima with this is are the time frames involved.

To Read More About These Plans Visit:

Fannie Mae’s Plan

Freddie Mac’s Plan

originally posted here…

This entry was posted on Thursday, June 3rd, 2010 at 10:19 AM and is filed under Short Sales & Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.