Short sales are up. How far up? Well there are litterally so many short sales that nationally it has been proclaimed that 2010 is the year of the short sale. Freddie Mac on Monday announced it losts 6 billion from April to June and requested another 1.8 billion in federal aid. “In a sign that 2010 is the “year of the short sale” for the GSE, the number of short sales completed by Freddie Mac totaled 22,117, up nearly 180% from 7,914 in the first half of 2009″ (Kilgore, 2010).
According to the White House Fannie Mae and Freddie Mac will not be ordered to forgive mortgage debt for underwater homeowners; despite rumors the rumors circulating Washington D.C. to the contrary. “The administration is not considering a change in policy in this area,” said Treasury spokesman Andrew Williams. This is probably not the news troubled [...]