Redemption States & Freddie Mac - new rule

FYI..............just found out that two or so weeks ago, Freddie Mac decided that the seller could no longer sell their home as a short sale in the redemption period.  The only way the seller could get redeem it is to pay it off.............well that will be pretty much none of the sellers selling short sales out there.   If I can give one piece of advice, if you are under contract, GET THE FORECLOSURE POSTPONED!!!!

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Comment by Steven Gomez on April 13, 2012 at 9:50pm

So very true, can't ignore the court ordered sale date. All the more reason for a close working relationship between the Realtor working the short sale and the attorney representing the debtor. 


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