FHFA Moves To Ease Short Sales For Homeowners

Law360, Washington (August 21, 2012, 7:17 PM EDT) -- The Federal Housing Finance Agency announced new guidelines on Tuesday to streamline short-sale procedures for homes with Fannie Mae and Freddie Mac mortgages, making it easier for all homeowners with loans from the organizations to qualify for short sales under one program.

The changes are part of a broader FHFA push, known as the Servicing Alignment Initiative, to develop new strategies to lower the number of homeowners with Fannie Mae and Freddie Mac mortgages that are facing foreclosure by offering them additional relief options with its...
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