Morning Minute: Short sale process gets shorter, says Freddie Mac

Under new rules that went into effect last fall, the short sale process is getting faster, easier and more transparent, writes Freddie Mac Senior Vice President Tracy Mooney in a recent blog post.

The streamlined process aims to speed up the process with Freddie Mac estimating that the time needed to complete a short sale will decrease by approximately 50-75 percent, Mooney said. You can also read more in this REALTOR® Magazine blog post.

In other news:

Number of homes entering foreclosure drops 22.1% to six-year lowChicago Tribune

Mortgage rates rise to 3.51 percent Christian Science Monitor

 

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