Fannie Mae’s Warning Makes the Case for Short Sales
If you’re contemplating walking away from your mortgage, particularly if your loan is backed by Fannie Mae, weigh thoroughly your options. If you’re really distressed, short sales may be the better alternative. Fannie Mae has warned that strategic defaulters won’t be able to get a Fannie-backed loan for seven years after the default and that it will pursue deficiency lawsuits…
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