Loans, Debt & Credit - View Single Post - Relocation Short Sale

Moe Bedard · 08-18-2008, 10:32 PM

Hi tbone499,

Welcome to the forum and thank you for joining...................

Here are the new rules for FannieMae regarding getting a new loan after foreclosure or BK...........

https://www.efanniemae.com/sf/guides.../2008/0816.pdf

For a Short Sale you need to go through Wells Fargo and HSBC first to see if that is an option at this time......so you would need to ask for a short sale package from each of them..........

Wells Fargo
1-800-416-1472

HSBC
1-888-648-3124

also be very careful about defaulting on the HELOC because the HELOC can be charged off and placed into the hands of a collection agency...........so you would not have any leverage with a HELOC if that were to happen.

08-18-2008, 10:32 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 17,542 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Relocation Short Sale - Likelihood of Approval Hi tbone499, Welcome to the forum and thank you for joining................... Here are the new rules for FannieMae regarding getting a new loan after foreclosure or BK........... https://www.efanniemae.com/sf/guides.../2008/0816.pdf For a Short Sale you need to go through Wells Fargo and HSBC first to see if that is an option at this time......so you would need to ask for a short sale package from each of them.......... Wells Fargo 1-800-416-1472 HSBC 1-888-648-3124 also be very careful about defaulting on the HELOC because the HELOC can be charged off and placed into the hands of a collection agency...........so you would not have any leverage with a HELOC if that were to happen. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Loan & Debt Forum" LoanWorkout.org "America's #1 Loan Modification Blog" MoeBedard.com "My Work From Home Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.