Helping Homeowners Avoid Foreclosure in Roseville and Sacramento

Recent Fannie Mae Success Shows Why You Must Pick A Short Sale Specialist For Your File

Posted on Jun 8, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone Mark Peek here, your short sale specialist in the Roseville and Sacramento area, thank you for joining me today. I work with Keller Williams Realty in Roseville and Sacramento and update my blog to keep distressed property owners informed on their options for avoiding foreclosure. If you are unsure of what to do with your underwater mortgage, take a minute to browse my website or give me a call to learn more about your options for avoiding foreclosure.

Today I wanted to share a recent short sale success story involving a mortgage that was owned by Fannie Mae. This file was serviced by Wells Fargo and had negative equity of roughly two hundred thousand dollars. The offer we received was from an investment partnership which can sometimes raise a red flag with the servicer and owner on the mortgage file. In this particular case the offer was for fair market value and I have every reason to believe this investment group was buying the property to rent out in the future. Unfortunately the team at Fannie Mae had some concerns this Roseville and Sacramento property would be flipped for a profit and closed this short sale file before negotiations even began. Thankfully because I have experience working with Fannie Mae in the past I was able to contact their management team and make them aware of the mistake that was being made by one of their staff members. Sure enough, I was able to get the file re-opened fairly quickly and saved my client a lot of time by not having to re-submit the entire file.

For this reason it is very important to know that your short sale agent is an expert and has the right answers if your short sale runs in to any problems. To get started on your short sale file today give me a call to arrange a free consultation to sit down and get all of your questions answered. Thank you for your time and have a great day.

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