CLOSING FANNIE MAE FREDDIE MAC SHORT SALE PROPERTIES.

Today we closed a  Wells Fargo/Fannie Mae short sale. After sitting at the settlement table for two and a half hours waiting for the final sheet to be approved I could not refrain from commenting on my observations. Short sales on government investor properties are tricky. The regulations promulgated by Fannie and Freddie force the lenders through a complex process to insure the final acceptance and payoff of the loss.

Most real estate agents  and the majority of title agents, (even the lawyers) have no idea how to resolve issues arising from changes in the settlement sheet that vary from the original short sale approval letter. We are always available to our customers to resolve these issues that arise at closing.

Investors should always stay away from  Fannie/Freddie properties as the regulations stifle your ability to wholesale the properties. Conventional loans are far more lucrative and easier to negotiate. But if you find yourself knee deep in the government quick sand we can throw you a tree limb, and drag you out.
There has never been a better moment in my lifetime to invest in real estate, just do not buy retail.