Short sales reached a record number in the third quarter of 2012 for Fannie Mae and Freddie Mac-backed loans, according to the Federal Housing Finance Agency, the mortgage giants’ regulator.
Short sales and deeds-in-lieu of foreclosure were up 23 percent from a year ago, totaling 37,966 for the third quarter, FHFA reports.
In June, Fannie and Freddie had implemented new timelines to speed up the review and approval of short sales.
Meanwhile, Fannie and Freddie’s inventories of REO homes is dropping, down 13 percent from a year ago. What’s more, REO inventories are down nearly 36 percent from the peak reached in September 2010.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2013/01/08/short-sales-hit-record-high-fannie-and-freddie-report
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
