Beginning today, Fannie Mae and Freddie Mac gave several private mortgage insurers the ability to approve short sales and deed in lieu of foreclosures for distressed home owners without requiring a separate review.
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Foreclosures on the market are being cleared away, down 22 percent compared to the beginning of this year, CoreLogic reports.
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Scam artists are already trying to profit off of home owners affected by Hurricane Sandy.
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Despite the recent drop in mortgage applications, housing analysts remain optimistic that the housing market is still on the road to recovery.
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As residents of the East Coast begin to pick up the pieces in the aftermath of Hurricane Sandy, the REALTORS® Relief Foundation is on hand, collecting donations for victims of the storm.
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