If your loan is owned by Freddie Mac or Fannie Mae, and you are facing foreclosure, you should know about this program. The intention of the program is to assist struggling homeowners who are facing foreclosure or a short sale.
The intention is to streamline the process and make it easier for the struggling homeowner.
Find out if your loan is owned by Freddie Mac here .
If it is, and you are considering a short sale on your home, here are the benefits listed for the program:
- 30-60 day limit for short sale approval / denial
- fewer steps to the short sale approval process
- increased communication strategies: 3-day acknowledgement required of loan servicers for short sale program application
- Loan services required to have a dedicated communication line to service these short sale clients
- Relocation Assistance of up to $3,000 at closing
Resources:
Freddie Mac’s Short Sale Resource Center
Cristine Clark, REALTOR
Realty Executives Vista
760-758-1211 or 760-758-2300 x220
online at www.CristineClark.com
