If I decline homepath can I request regular shortsale? In other worths if my homepath declines can it be set up as homepath again?

Asked by Sonia, Miami Gardens, FL Fri Jun 7, 2013

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Sharon Harris, Agent, Hanover, PA
Fri Jun 7, 2013
Sounds like you may be buying a home offered through home path? You can buy using whatever financing you like. home Path is just in place to make it affordable for the buyer.
0 votes
Terry Farnsw…, Agent, Lisle, IL
Fri Jun 7, 2013
I'm not following your question whatsoever.

Homepath financing and a short sale are two different things. Homepath is a financing and incentive program by Fannie Mae, that can be used on eligible Fannie Mae owned foreclosure properties.

A short sale is when you sell your home for less than you owe on the outstanding loan after having your hardship package approved by your lender.

These are two completely different things that have no direct relation to one another. Can you clarify your question/situation and I'd be glad to try and help?
0 votes
Mike Rosania, Agent, Philadelphia, PA
Fri Jun 7, 2013
Question is confusing. If Fannie Mae is the investor on your loan then you have to follow their guidelines. If you were declined to do a short sale you need to find out why. You need to have some type of hardship to qualify. As a buyer you do not need to use HomePath financing. Are you buying or selling?
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