Select Property Solutions, LLC

Select Property Solutions, LLC
A Full Service Real Estate & Property Management Company
Allow us to find your perfect match!

352 Amanda Dr.
Gray, GA 31032
Office: (478) 719-4535
Fax: (478) 986-8021

Call Rick or Ann Tipton
Rick Cell: (478) 719-4535 or Ann's Cell: (478) 719-4544
Email: or

Tuesday, August 16, 2011

Fannie Mae Pushed Foreclosures rather than Loan Modification

Fannie Mae admitted that they were pushing foreclosures rather than Loan Modifications (so much for the governments help). To make matters worese, Anyone that has had a foreclosure in their past and wants to buy a home will face some challenges.

1. Must be 7 years out, unless there are extenuating circumstances, such as death in family, loss of income due to loss of job and all will have to be documented.

2. Even with proof and documented extenuating circumstances, it still has to be 3 full years out from date on credit report.

This is on all FHA loans that require 3.5% down and can be a 203B or 203K.
For additional information contact my friend Patrick Spencer at Envoy Mortgage.