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Nextage Realty Professionals

New Fannie Mae Servicing Guide prohibits banks from lowering short sales commissions

By Jerry Cecil, on February 26th, 2009

On Tuesday, February 22nd, 2009, Fannie Mae released an announcement with updates to the Servicing Guide used by banks in the U.S.

One of the sections that will impact short sale sellers and REO agents nationwide is the prohibition of banks making the sale of a short sale conditional upon the lowering of commissions.

If [...]

Posted by Jerry Cecil February 26, 2009, 9:51 am

New Fannie Mae loan program benefits Prescott and Prescott Valley foreclosure investors

By Jerry Cecil, on February 13th, 2009

Loan Program from Fannie Mae

Fannie Mae, the Federal National Mortgage Association, has announced a new program for buyers purchasing Fannie Real Estate Owned Properties (REOs).

The motivation behind this program is for Fannie Mae to quickly sell off foreclosed properties. If the parameters fit,this could be a bargain for a motivated buyer. If you will occupy [...]

Posted by Jerry Cecil February 13, 2009, 5:04 pm

Advice for renters if landlord faces foreclosure

By Jerry Cecil, on December 26th, 2008

You’re paying your bills, but your landlord isn’t. And you’re the one holding the eviction notice. This is becoming an all too familiar scenario for thousands of renters nationwide…
[...]

Posted by Jerry Cecil December 26, 2008, 4:06 pm