New short sale rules
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Fannie mae and Freddie mac have come up with new rules.:

As reported by the LA Times, Fannie and Freddie have finalized their new “streamlined” short sale guidelines effective Nov.1st.

Here are the highlights of the finalized criteria:

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More cities housing makets are recovering
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Nationwide there was 1,8 % quarter to quarter change this year but lots of areas did better. This does not include reos or short sales so its pretty accurate. This exhaustive study has lots of charts and stat. I included a few but if you want to see the whole picture, click here to read the story

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New short sale and loan mod rules
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Homeowners receiving loan modifications for their primary residence (and noted on their credit report); are now being treated as short sellers by Fannie Mae…even if the homeowner was never late on their mortgage.

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