FHFA ENCOURAGES HOMEOWNERS TO REACH OUT EARLY TO THEIR LENDER OR SERVICER IF THEY FACE ANY HARDSHIP.
New Short Sale regulations just announced benefiting homeowners facing financial hardship...
FHFA Announces New Standard Short Sale Guidelines for Fannie Mae and Freddie Mac
Washington, DC -The Federal Housing Finance Agency (FHFA) has di
rected Fannie Mae and Freddie Mac to align existing short sales programs into one standard short sale program and issue clear guidance to mortgage servicers. With these changes, Fannie Mae and Freddie Mac will allow homeowners with eligible hardships to sell their home in a short sale even if they are current on their loans. FHFA, Fannie Mae and Freddie Mac are making these changes to help more homeowners avoid foreclosure, keep homes occupied and help maintain stable communities. The streamlined program rules will enable lenders and servicers to quickly and easily qualify eligible borrowers for a short sale.
Read more on my blog at
Sterling Foreclosure and Short Sale Information - Don't Give Up - There Are Options