Starting June 15, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers a final decision within 60 days. Fannie and Freddie must also respond to initial requests for a short sale within 30 days of receiving the buyer’s submission. Expedited sales as a result of the new directive will benefit the inspection industry. They could also remove some risks for buyers — many of whom previously had to wait months for a decision and then ended up not getting the house they wanted.
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