Important Message from MNAR CEO Christopher Galler on Freddie Mac & Short Sales
We’ve been receiving a number of calls and emails discussing whether or not Freddie Mac will close on short sale transactions after the Sheriff Sale. Working with the National Association of REALTORS®, the Minnesota Association of REALTORS® is looking to verify the situation. NAR has had conversations with both Freddie Mac and Bank of America; with each saying that no such policy is in effect.
We need evidence from servicers or others that Freddie Mac is not allowing any short sale transactions to close after the Sheriff Sale has taken place. We understand that some attorneys in the market have drafted articles stating that Freddie Mac has made a decision to stop any in-process short sale transactions after the Sheriff Sale has occurred. We would appreciate letters, emails or other contact information if this is happening. Please email your information to MNAR CEO Chris Galler at email@example.com or leave a comment below.
The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 19,000 members who are active in all aspects of the real estate industry.