Short Sale Assistance for Military Homeowners with Fannie Mae or Freddie Mac Loans
Posted by
Staff
on
June 21, 2012
Today, the Federal Housing Finance Agency announced changes to short sale policies that will make it easier for military homeowners with Fannie Mae and Freddie Mac mortgages to honor their financial commitments when they are issued a Permanent Change of Station (PCS) order.
Changes to the short sale policies will alleviate some of the issues faced when a member of the armed forces receives a PCS order including the burden of having to sell their home in a different housing market. Congressman Smith has been an active supporter of policies and legislation that address military and veteran homeownership issues including cosponsoring the Military Family Home Protection Act that would improve protection for service members against foreclosures. Service members with PCS orders will be:
For more details and eligibility requirements, click here. To check if your loan is held by Fannie Mae or Freddie Mac, visit them online or call the hotlines for military homeowners at 1-877-MIL-4566 or 1-800-FREDDIE. |
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