Changes in the regulatory rules forcing Fannie and Feddie to chose between foreclosure and short sale but not both.
A few weeks ago there was a news report that Fannie and Freddie's regulators had told them to get procedures in place so that by third quarter they were in position to either go for foreclosure or decide to allow a short sale on any given property. They were not going to be able to dual track toward both outcomes at the same time...for any specific property.
Has anyone seen an update on this?
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