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Subject: Freddie Mac – Overview for Real Estate Professionals
Freddie Mac Standard Short Sale Overview for Real Estate Professionals
Standardizes and expedites the short sale process for struggling homeowners
When a home retention option is not a viable solution for some of your clients who are at risk of losing their home, the Standard Short Sale, available through Freddie Mac Servicers, offers eligible homeowners another opportunity to avoid foreclosure. The requirements are intended to facilitate quicker, more flexible short sale transactions in order to help expedite struggling homeowners’ transition to more affordable housing. Freddie Mac Servicers will begin implementing these requirements for new borrower evaluations on or after November 1, 2012…