Short Sales Correction By Fannie Mae

by staff on September 8, 2013

What if the documentation and comparisons of recent sales activity recorded by Fannie Mae… did not acknowledge short sales?   This happened.  Really.

Due to a Fannie Mae computer software glitch,  there wasn’t a category for short sales.  So all short sales were put into the ‘foreclosure’ files.    By law, a short sale may prevent the seller from buying another home for 2 years.  By mislabeling short sales, they were put into a foreclosure category which prevents a seller from buying another home for 7 years.

If you want a link to learn more or correct this problem for yourself, HERE’S your link.  Fannie Mae says they’ve corrected the problem.  HERE’S where you can report this problem of your own.

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