Wednesday, November 16, 2011 / by Lynn Horner Baker
“I was just told by the lender on a short sale that they will have to “close” the file because the buyer’s name changed. They said that due to Freddie & Fannie rules if the buyer’s name changes they require the file to be closed and reopened.
That would cause the file to drag out another 60-90 days. It would make sense to simply process the file now rather than wait until later. Why lose all the work that has been done up until now just to do it all again 60 days from now?”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer to their question. That sounds like a lie to me. Threaten to call Fannie Mae. The phone number is 202-243-5400.
Call them if it takes too long to re-open the new file. Oftentimes, they will re-open the new one in a week. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at Lynn@HornerBakerPartners.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 770 579-4060
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our North Metro Atlanta loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Lynn Horner Baker.
Lynn is a Real Estate Agent and owner of Horner Baker Partners. North Metro Atlanta Short Sales Realtor:
Phone: 770 579-4060. Lynn@HornerBakerPartners.com.
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