New Standard Short Sale Guidelines for Fannie Mae and Freddie Mac

FHFA Announces New Standard Short Sale Guidelines for Fannie Mae and Freddie Mac; Programs Aligned to Expedite Assistance to Borrowers  "Washington, DC – The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac are issuing new, clear guidelines to their mortgage servicers that will align and consolidate existing short sales programs [...]

Fannie and Freddie Set Timeline Requirements for Short Sales

By: Carrie Bay 04/17/2012 Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days. The GSEs issued new guidelines Tuesday that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency [...]

Mortgage Forgiveness Debt Relief Act: Last Leg

  "Attached is a story from the Chicago Tribune that you should know about and discuss with / forward to all the agents in your office.  Currently, the Mortgage Forgiveness Debt Relief Act of 2007 allows homeowners to exclude the amount of the loan forgiven in short sales and foreclosures.  This means that, following a [...]