How a Roseville Short Sale works on a Fannie Mae Loan
By Mark Peek, Peek Real Estate Group - Roseville CA Real Estate
(Roseville Rocklin Real Estate - Keller Williams)
Roseville CA – Fannie Mae stands for Federal National Mortgage Association. Fannie Mae was placed into conservatorship by the US government in June, 2008. Fannie Mae short sales are much simpler than other short sales. Around half of all US mortgages are owned by Fannie Mae or Freddie Mac. That means the company you have been mailing your mortgage payment to does not actually own your loans. You might mail your check to Bank of America, Wells Fargo, or Chase. But, they act as a “Servicer” on behalf of Fannie Mae. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. Fortunately for most homeowners, Fannie Mae does not pursue deficiencies or promissory notes. The only exceptions are if it were a strategic default or the loan has Mortga...
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