Topic: Beware of the Approval Letter
You received the short sale approval letter from your lender and you are jumping for joy!! Not so fast my friend. Read the letter. Then read the letter again to make sure the deficiency is waived, the buyer's name is correct AND that the sales price approved actually matches your sales contract.
Topic: Regarding Fannie Mae Owned Loans
You should expect some sort of counter-offer. It may be the sales price, a promissory note from the seller or both.
Topic: Short Sale or Loan Modification Mirage?
If you find yourself in the revolving merry-go-round of a loan modification all the while falling further behind on your mortgage payments, stop, get off the ride. Promises by your lender that you should try to modify your loan again and again is like being stranded in the Mojave Desert and seeing a myriad of oasis mirages.