In an article on USA Today - "Fannie Mae gets tough on "Strategic" mortgage defaults" - the following caught my eye:
Starting in October, Fannie Mae says, strategic defaulters will be disqualified for new Fannie Mae-backed loans for seven years after their foreclosures. Fannie also says it will go to court where it can to recoup outstanding mortgage debt from borrowers who strategically default.
Interesting, particularly given Fannie Mae's new policy of declining to postpone Trustee Sales when the Short Sale contract on the Borrower's property is secured less than 30 days prior to the Trustee Sale.
A mixed message from Fannie Mae - whouda thunkit? Don't do a Strategic Default - because we'll penalize you if you do - but - if you do the responsible thing and attempt a Short Sale - we'll foreclose anyway!
The moral of the story - don't wait until it's too late!
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!
Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty
Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty