New foreclosure rule on FNMA loans. Short sales are now a must!

What a time of change we are in! Facing foreclosure? It won't be until the 100 year anniversary of the stop sign before a FNMA loan can be secured with less than 10% down.

With the recent changes to FNMA rules regarding the increase to a 5 year period and a 10% minimum down payment under 7 years from the date of a foreclosure, people now have a pretty strong reason to want to sell short.

Seven long years!

It's going to have been 100 years since some of the events of World War I occurred before a normal FNMA loan can be used.

If you or anyone you know is facing foreclosure, seek the services of an experienced agent has navigated the short sale waters before.

Short sale = two year waiting period. Foreclosure/Trustee's sale = 5 year minimum with years five and six requiring a minimum down payment.

Don't delay, seek an experienced short sale REALTOR(R) TODAY!