What qualifications are needed for Short Sale with Hardship for each mortgage type?
Find your mortgage type and read the articles to find what is acceptable and non-acceptable for hardship.
Federal Housing Finance Agency (FHFA):
Please note: Both Fannie Mae and Freddie Mac have stipulations in place that can prohibit a short sale if a new home purchase was done prior to the application for a short sale. Please be aware of these rules.
Fannie Mae (FNMA):
Freddie Mac (FHLMC):
June 3, 2014:This Single-Family Seller/Servicer Guide (“Guide”) Bulletin updates and revises the following:Certain requirements for Freddie Mac Standard Short Sales (“short sales”) and Standard Deeds-in-Lieu of Foreclosure (“DILs”) pg. 6