Freddie Mac and Short Sales

If you have a VA loan, you have a relationship with Freddie Mac.  As one of the former quasi-government agencies and now owned by the federal government after the mortgage industry blew up in 2008, Freddie Mac is the go-to insurer of VA loans.  Consequently, they are very concerned about fraud when lenders who are originating VA loans approve short sales for borrowers.  The attached link is directed towards these lenders, but consumers can learn from this post.  Note the Fraud Prevention Red Flags.  Remember my earlier post about borrowers paying off their credit cards and letting their mortgage go?  This idea belongs in the Land of Unintended Consequences.  If you need the advice of someone who has experience with and ongoing education about short sales, please contact me.  My team of CDPE trained Realtors® stay on top of what is going on with this segment of the market.  We are here to help!