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Mortgage Assigned to Fannie Mae. How do I initiate a short sale?

Posted by Tom Murphy on June 8, 2012 at 6:28am in Short Sale Discussions

My client is hoping to short sell her home.  In conducting the research I found that her mortgage was assigned by her lender - Amnet Mortgage, to Fannie Mae.  I've never initiated a short sale directly with Fannie Mae.  Can anyone advise?

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Tags: Fannie, Mae, assignment, fannie, mae, sale, short
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Replies

  • jay grant June 20, 2012 at 9:44am
    CORRECTION TYPO LESS THAN 90 DAYS FOR APPROVALS.
  • jay grant June 18, 2012 at 10:59am
    I am correcting the ten day typo. were getting approvals in 90 days. our recent clients formal approval letter of $147,000 is with us and his agent is hoping to close escrow in 30 days.
  • jay grant June 18, 2012 at 10:59am
    I am correcting the ten day typo. were getting approvals in 90 days. our recent clients formal approval letter of $147,000 is with us and his agent is hoping to close ecrow in 30 days.
  • Wendy Starling June 17, 2012 at 6:16am

    I completed a short sale directly with Fannie a few months back and like a previous poster mentioned, they use a vendor called Kazork.com.  It works like a combination between Equator and HUD.  It's pretty simple and they have a rep assigned to your file and in my experience they were very communicative and helpful, their expectation on value vs. required net was very realistic.  It was about a 30-40 day process.  Don't wait for an offer before you contact them to start the file.  They will give you a price up front after doing a BPO and you can then market it as price approved.  Hope that helps!

  • Bryant Tutas June 17, 2012 at 12:23am

    x

  • Matthew Krause June 15, 2012 at 4:17am

    Tom, My company has experience with this. The seller should have been sent a notice of assignment with contact info. I would ask them if they recall seeing anything like that. Another option is to give me a call and we can do the research, processing, and closing for you. 

    Matthew Krause

    Atlantic Coast Title 

    Direct: 561-512-3567

    www.actitlegroup.com

    • jay grant > Matthew Krause June 17, 2012 at 1:08am

      or you can do a short sale and have our non profit purchase the home and then sell it back to the home owner. we are getting our offers approved before ten days. one of our recent clients offer was approved in 9 days now were aiming to close escrow in less than 30 days. 

      our new loan same home buyback plan is the best thing since sliced bread. i sugges who ever has clients wanting to short sale but want to keep their home. send them to us. our # 619-516-8113

      1.) we provide immediate funding for your short sale.

      2.) 3% usual commision for the listing/buyers

      3.) banks write the loss as a tax write off. as a charitable donation to our non profit

      ask me how we are able to do this. 

      • RACHEL BUTTER > jay grant June 17, 2012 at 3:29am
        Hi: I have been following your threads and I am interested in doing a short sale on my home and buy it back. Have all the intentions and reasons to keep it, please let me know how your company can help me. I have Citibank. Will Citibank normally agree to a short sale on a home if payments never late or missed?
        • Jim West > RACHEL BUTTER June 18, 2012 at 8:19am

          Rachel,

           

          Have you tried HARP 2.0 yet? Give Citi a call and see if they will talk to you about it.

        • Stacey Lynn Holmes > RACHEL BUTTER June 18, 2012 at 1:23am

          In my experience I have never had a bank not require you to be at least 30 days late in order to do a short sale.

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