Frannie Freddie Approving More Short Sales

Well, finally progress is being made on government controlled short sales. Good news for those homeowners who find they need to short sell their property!

According to Inman News:

Loan servicers working on behalf of Fannie Mae and Freddie Mac signed off on a record number of short sales in the third quarter of 2012, according to a report from the mortgage giants’ regulator, the Federal Housing Finance Agency (FHFA).

Short sales and deeds-in-lieu of foreclosure totaled 37,966 for the three months ending Sept. 30, 2012, up 4 percent from the previous quarter and 23 percent from a year ago. Fannie and Freddie implemented accelerated timelines in June 2012 for reviewing and approving short-sale transactions.

Fannie Freddie SHORT SALES Q3 2012 600x320 Frannie Freddie Approving More Short Sales

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