Will appoved short sales be sold to feds? At what price ?

Foreclosures, Short Sales, Tax Foreclosures
1

If you have a 200,000 dollar mortgage and an approved shortsale for 115,000 what happens in the pending bailout ?

Will the bank sell the loan for 115,000 or 200,000?

If its 115,000 will the feds demand the full mortgage be paid or will they offer the owner a mortgage at 115,000?..any comments on what this all means ?

2

If you have an approved short sale for $115,000 and now the bank has an option to sell their mortgage to the FED. Until your approval expires the bank can’t break their agreement with you.