New Fannie Mae Deed for Lease Program FAQs + Important Foreclosure and Short Sale Information

Are you struggling with mortgage payments? 1 out of 10 homeowners are currently delinquent on their mortgage or they are facing the foreclosure process.

Sometimes bad things happen to good people. Know Your Options!

* Fannie Mae Deed for Lease Program - https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0933.pdf

* Fannie Mae Deed for Lease Program FAQs - https://www.efanniemae.com/sf/servicing/d4l/pdf/d4lfaqs.pdf

* MN Attorney General Facing Foreclosure - http://www.minnesotafaim.org/conf_2009/Attorney_General_Resources/FacingForeclosure.pdf

*Tax relief for struggling homeowners - http://www.irs.gov/pub/irs-pdf/p4705.pdf

*Mortgage Forgiveness Debt Relief Act 2007 -http://www.irs.gov/individuals/article/0,,id=179414,00.html

*New Government Making Home Affordable Plan - http://www.makinghomeaffordable.gov/

*Does Fannie Mae own your mortgage? - http://loanlookup.fanniemae.com/loanlookup/

*What does the Fannie Mae Lookup mean? - http://www.fanniemae.com/aboutfm/pdf/loanlookupfaq.pdf

*Does Freddie Mac own your mortgage? - https://ww3.freddiemac.com/corporate/

*HUD Counselors - Free - http://portal.hud.gov/portal/page/portal/HUD/

*Foreclosure laws statewide - http://www.uslossmitigation.com/states/index.html

*Standard and Poor's Case Shiller Index -http://www2.standardandpoors.com/spf/pdf/index/2009-09_Residential_Real_Estate_Indicators.pdf

*Making Home Affordable Servicer Performance Report 9-09 - http://www.treas.gov/press/releases/docs/MHA%20Public%20100809%20Final.pdf

For the struggling homeowner who needs a Short Sale, a Short Sale allows the financially challenged homeowner to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With dropping home property values, this can save many homeowners from foreclosure and even bankruptcy. A Short Sale is much less costly for a lender than a foreclosure. Be sure to check out the links here and more on my website. Don't hestitate to call or text me with any questions you may have.

I am a REALTOR® not an investor. I am highly experienced working with banks and lenders - upper management and staff. I have trained on lender negotiations, lender process, and real estate finance for 20 years. I am a Certified Distressed Property Expert and I recently completed The Center for Asset Preservation certificate course detailing the new rules and regulations for the Making Home Affordable program. My Comfort Level: HIGH!

Bob Elliot 612 578 6162 or bob@bemnre.com
For much more Short Sale information: http://bit.ly/1U2hAq or
http://www.bobmnrealestate.com
RES Realty
Burnsville, MN


It is always good practice to consult your legal or tax advisor.