Short Sales are still picking up!
Nearly 31,000 borrowers with Fannie Mae and Freddie Mac loans forfeited their homes through a short sale or deed-in-lieu during the second quarter of this year.
The figure represents a 27 percent increase over the 24,000 short sale and deed-in-lieu transactions completed by the GSEs during the previous three-month period.
According to a report released Friday by the two mortgage giants’ regulator, the Federal Housing Finance Agency(FHFA), the GSEs’ are continuing to utilize these foreclosure alternatives “to reduce foreclosure-related costs and to minimize the impact of foreclosures on borrowers, communities, and neighborhoods.”
