Below are underwriting guidelines for Fannie Mae regarding
Foreclosures for more information just give us a call:

Borrowers with a
Foreclosure on their credit:

5 year wait before consideration for a new loan and
additional credit and down payment requirements.



Borrowers with a
Deed In Lieu:

4 year wait before consideration for a new loan and
additional credit and down payment requirements.



Borrowers with a
"Short Sale"

Require just a 2 year wait and no additional credit criteria
or down payment.



As you can see even Fannie Mae is encouraging "Short
Sales"! But theirs even more benefit than that- as a Owner
Occupant, when the lender agrees to settle for the Sale of
the property- they also agree to the payment as a final
payoff.  No further collections, judgements or deficiency
amounts and the most beneficial write off is that your taxes
won't be affected by the unearned income tax- because the
president exempted foreclosure victims from it.

Would you like to consult with a Loss Mitigator to help you
find the best alternative's to your situation?

Contact us today!  

Be empowered to move forward tomorrow!