What will Doing a Short Sale Cost?
Nothing, usually when a short sale is negotiated and agreed upon the bank wipes out any additional fees and charges. Team Mortgage Solutions Can Help You! We are a team of agents that have been in the business for several years and closed hundreds of transactions. We specialize in negotiating with the banks to get our listings sold. Although, this process may be timely it is successful! The average time for negotiations may take anywhere from 90-120 days. Short Sale vs. Foreclosure ISSUE FORECLOSURE SUCCESSFUL SHORT SALE Future Fannie Mae Loan – Primary Residence A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 YEARS. A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage after only 2 YEARS. Future Fannie Mae Loan – Non Primary Residence An investor who allows a property to go to foreclosure is ineligible for a Fannie Mae backed investment mortgage for a period of 7 YE
