Jan 21, 2014
Freddie Mac dispells short-sale myths
21 Jan 2014
Posted by Andrew Kantor
The short sale is an important tool for helping distressed homeowners avoid foreclosure and eliminate their mortgage debt, however they can still be a bit of a mystery for borrowers. There are misconceptions and there are little known facts.
Freddie Mac senior vice president Tracy Mooney has a detailed blog post dispelling the myths of short sales.
Among other things, she explains why “Even if you are current on your mortgage payments, you may be eligible for a short sale” and “If you meet the other eligibility requirements, you may be able to obtain a Freddie Mac short sale even though you have a second mortgage.”
Take a look and see what may surprise you about the ever-changing business of short sales.