If Fannie Mae is the investor, do they have to approve all short sales?   If so, how long does it usually take to get an answer from them?

 

 

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BofA will review the short sale and do the counters to fit FM guidelines. Fannie will have the final say and its hard to give a time frame because they are as backed up as the bank. If it is a Fannie loan, you may also have MI involved. Just another piece in the puzzle.

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