Saturday, July 19, 2008

Quite a bit of discussion today about the FNMA flips and the short sales after FNMA. This has something to do with Florida short sales but not a lot, I think. Let me explain.

You see, FNMA has the policy on short sales. They want you to complete a short sale. Especially if you have a FNMA MY Commmunity mortgage loan in default. When you sell the mortgage loan in Florida for les than the mortgage balance, you have a Florida short sale. FNMA does these types of short sales in Florida all the time.

Take a look at the requirements for FNMA FLips and short sales. Did you know that FNMA allowed a flip transaction? You can get the property through FNMA and then flip it to someone else. That's called a FNMA Flip transaction and there are rules for that.

You can learn about short sale in Florida, FNMA Flips, FNMA short sales, and FNMA MyCommunity mortgage all in the next article. Have a great day!

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