logologologologo
  • Buying
    • Property Search
    • Our Communities
      • Atlantic Highlands
      • Fair Haven
      • Highlands
      • Little Silver
      • Long Branch
        • Long Branch Condos
      • Monmouth Beach
      • Oceanport
      • Red Bank
      • Rumson
      • Sea Bright
        • Chris’ Landing – Sea Bright, NJ
        • Sea Bright Condos Grand Pointe
    • Signup for Listing Alerts
    • Featured Listings
    • Resources
      • Golf Courses in New Jersey
      • Monmouth County Chambers of Commerce
  • Selling
    • List With Gloria
    • Blog For Sellers
    • Selling Your Home – Negotiating
    • Moving Checklist
  • Buzzzzzzz
    • Market Buzz
    • Listings Buzz
  • Blog
  • About
    • Trustimonials
  • Contact
    • Contact
    • Book a Consultation

FHFA Announces New Short Sale Guidance
On August 21, 2012, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac), announced that Fannie Mae and Freddie Mac would be issuing new guidelines to enhance and streamline the short sale process.

Servicers of Fannie and Freddie loans will be allowed to approve short sales for borrowers with severe financial hardship with limited documentation, provide borrowers who are current on their loan the option for a short sale if they face a financial hardship such as divorce, long distance employment transfer, or a severe disability, and provide valuation guidance to real estate agents early on in the short sale process. Servicers are required to implement the changes by Nov. 1, 2012.

“Realtors appreciate FHFA’s efforts to increase the number of short sale approvals, which limit the losses incurred by homeowners, lenders, the federal government and taxpayers,” said National Association of Realtors® President Moe Veissi.

 
NAR worked closely with FHFA and Fannie Mae and Freddie Mac to create the new guidelines and has long advocated improving the short sale process to provide more distressed homeowners with alternatives to foreclosure. NAR believes that improving short sale eligibility will allow more families to avoid foreclosure and reduce the negative impact foreclosures have on families and communities. Short sales also help stabilize home values and neighborhoods by keeping homes occupied, which benefits the housing market and aids in the recovery.

For additional details, please click here to read the FHFA summary and fact sheet.

Related links:

 
Realtors Applaud FHFA for Expanding Short Sale Eligibility to Help More Struggling Homeowners

Link to Fannie Mae guidance available Aug. 22

Link to Freddie Mac guidance available Aug. 21

Share

Related posts

June 30, 2025

Multi-Generational Homebuying Hit a Record High – Here’s Why


Read more
June 26, 2025

What Every Homeowner Needs To Know In Today’s Shifting Market


Read more
June 25, 2025

Think It’s Better To Wait for a Recession Before You Move? Think Again.


Read more

Search

Categories

  • Buzz!
  • First Time Home Buyers
  • For Buyers
  • FOR SELLERS
  • Jersey Shore Real Estate
  • Listings
  • Market Buzz

Archives

COMPASS RE
623 River Road, Fair Haven, NJ 07704
o: 732.936.5248
Privacy Policy | Terms of Service | Disclaimer

GloriBee

Gloria Benaroch

Your Trusted Real Estate Advisor Since 1987

[email protected]
Mobile: 732.245.4031
License #: 8935976

  • Instgarm
  • linkedin
  • facebook
  • youtube
Copyright © Gloria Benaroch | All Rights Reserved | Login | Custom Website by Real Estate Tomato