For distressed homeowners, the temptation to just “walk away” (and allow the bank to foreclosure) may initially be appealing. Just be done with it. However, that may be the worst option to choose, and here’s further proof it’s better to do a short sale instead of allowing the bank to foreclose. Fannie Mae just gave new guidelines stating when a homeowner can re-purchase a home after either a short sale or foreclosure – it’s a 2 year wait after a short sale vs. 4 – 7 years after a foreclosure. With the new federal HAFA initiative, there’s little reason now to simply “walk away” – don’t do it! If you’re in this situation, call Leslie today and find out more about short sales and the HAFA program.