Morning Minute: Short sale process gets shorter, says Freddie Mac

Under new rules that went into effect last fall, the short sale process is getting faster, easier and more transparent, writes Freddie Mac Senior Vice President Tracy Mooney in a recent blog post.

The streamlined process aims to speed up the process with Freddie Mac estimating that the time needed to complete a short sale will decrease by approximately 50-75 percent, Mooney said. You can also read more in this REALTOR® Magazine blog post.

In other news:

Number of homes entering foreclosure drops 22.1% to six-year lowChicago Tribune

Mortgage rates rise to 3.51 percent - Christian Science Monitor

 

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.