How Long Before You Can Sell a Foreclosure?

[Russell Brazil]

You would think I would know this being both an agent, and the owner of several previous foreclosures...but how long does Fannie & Freddie place on the deed restriction before you can sell a foreclosure they owned?

[Wayne Brooks]

@J Scott Now that you mention it, I think I was wrong. I saw it years ago, then stopped seeing it. I think I confused it with the "work around" guys were using here for the "no transfer/mtg for more than 120% within 90 days". What they do, is immediately transfer it for the same price they paid, to a sister/other LLC. That eliminated the "120% restriction" which was Specific To That Buyer, it didn't apply to the "new" related LLC, so that LLC could resell for whatever they wanted. The recent change I saw in the deed restriction is that "it runs with the title and isn't limited to the initial buyer for 90 days. I'm guessing this was in reaction to the "work around" becoming more popular. I was thinking, well this eliminates the work around, similar to the absolute resell prohibition.