There has been a lot of misinformation on the internet with FNMA short sales. The FNMA MyCommunity mortgage is another subject altogether. The FNMA Flips and FNMA Flipping is also another story altogether. This article is about FNMA Flips and FNMA short sales.
A short sale is defined by Fannie Mae - FNMA and it is formerly known as the Federal National Mortgage Association which is a corporation that specializes in buying mortgage loans from mortgage bankers. FNMA adds liquidity when it can to the mortgage market. The fed recently bailed out FNMA by allowing it to borrow from the Fed's discount window. Again, don't get me started on that aspect of FNMA.
FNMA offers many Foreclosure Workout Options. Fannie Mae has a Repayment Arrangement, Forbearance, Loan Modification, Short Sale , Short Sale , and Deed in Lieu . Did I mention FNMA short sale? Yeah, I mentioned FNMA short sale in Florida just to see that you were paying attention. Now let's talk about FNMA Flips in Florida using the FNMA MyCommunity mortgage loan. This has a few things in common with the FNMA short sale. Namely, that they are both sponsored by Fannie Mae. There will be more on FNMA if you liked this post then you should save this blog in you favorites.
FNMA Flipping Rules are ever changing. To stay on top of the lates FNMA news with regards to short sales and FNMA Flips, check the Fannie Mae rules on flipping properties.