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 low – Chicago Tribune
Mortgage rates rise to 3.51 percent – Christian Science Monitor