LAS VEGAS HOMEOWNER, LISTEN UP. For the first time Fannie Mae and Freddie Mac are offering moving relocation assistance with their
short sales. What does this mean to you? If your mortgage is owned by Fannie Mae or Freddie Mac you might qualify to receive up to $3,000 at closing of a
successful short sale. Call the Las Vegas Short Sale Experts at Nevada Realty Solutions,
The Amanda Brown Team to start your short sale and see if you qualify!
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Short Sale Agent Update
January 18, 2013 |
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Fannie Mae and Freddie Mac announced changes to their servicing requirements for short sales. Please be aware of the following key changes for all parties involved in a short sale. These changes apply to all Fannie Mae and Freddie Mac short sales, with an offer and without an offer.
- Relocation Assistance:
- The borrower may be entitled to an incentive payment of $3,000 from Fannie Mae / Freddie Mac to assist with relocation expenses following successful completion of a short saleunless:
- The borrower is required to contribute funds or execute a promissory note.
- The borrower has Permanent Change of Station (PCS) orders and receives a Dislocation Allowance (DLA) or other government relocation assistance.
- The servicer has knowledge that the borrower is receiving relocation assistance from another source other than the servicer.
Note: If the borrower receives relocation assistance from a source other than Fannie Mae / Freddie Mac or the Servicer, the difference in the relocation assistance amount up to the $3,000 incentive maximum may be provided. If the borrower will receive relocation assistance from a source other than Fannie Mae / Freddie Mac or the Servicer and the amount is equal to or greater than $3,000, no relocation incentive will be provided.
The Amanda Brown Team
Nevada Realty Solutions
Amanda Brown
702-496-7416
brownnvrs@gmail.com
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