FHFA 8/21/12 Announcement RE: SS max offers for 2nd liens ? Tom E ?

[bgriff]

Does anyone have any additional information regarding the FHFA 8/21/12 announcement for SS's ? More specifically, the announcement states that Fannie or Freddie will allow up to $6k to be paid to subordinate liens for full release of the lien and wavier of any deficiency. Does this mean that Fannie/Freddie will strong arm the second into this ? Does this mean that if you offer more than $6k to settle, the second would be in a better position to take your offer ?

[TomEason]

Does anyone have any additional information regarding the FHFA 8/21/12 announcement for SS's ? More specifically, the announcement states that Fannie or Freddie will allow up to $6k to be paid to subordinate liens for full release of the lien and wavier of any deficiency. Does this mean that Fannie/Freddie will strong arm the second into this ? Does this mean that if you offer more than $6k to settle, the second would be in a better position to take your offer ?

bgriff

I don't know the answer to your question. You might consider posting the question in one of the threads in the Short Sales Outpost forum.

[Cat Damiano]

Does anyone have any additional information regarding the FHFA 8/21/12 announcement for SS's ? More specifically, the announcement states that Fannie or Freddie will allow up to $6k to be paid to subordinate liens for full release of the lien and wavier of any deficiency. Does this mean that Fannie/Freddie will strong arm the second into this ? Does this mean that if you offer more than $6k to settle, the second would be in a better position to take your offer ?

Here are Fannie Mae's guidelines;

https://www.efanniemae.com/sf/guides...12/svc1219.pdf

Here are Freddie Mac's guidelines;

http://www.freddiemac.com/sell/guide...df/bll1216.pdf
Here is the full document of this announcement;

http://www.fhfa.gov/webfiles/24211/ShortSalesPRFactFinal.pdf