No Surprise to CDPEs: Freddie Mac Short Sales up 600%

It didn’t take an official statement from Freddie Mac’s CEO to convince CDPEs — the agents helping distressed homeowners on a daily basis — that short sales have increased dramatically across the country. However, the number was still impressive and makes a big statement on a movement within the real estate industry to provide real solutions to homeowners facing foreclosure. Here’s what Housing Wire reported:

Freddie Mac CEO Ed Haldeman said the company has seen the number of its short sales increase 600% from 2008 as lenders look to dampen the impact of foreclosures hitting the marketplace.

In a statement put out this week, Haldeman said Freddie Mac is doing everything it can to prevent more foreclosures, and that short sales are becoming an ever-popular tool in situations where foreclosure is imminent and modifications have failed.

That number could increase as the Home Affordable Foreclosure Alternatives (HAFA) program takes hold. The Treasury Department launched it in April to provide cash incentives to servicers for conducting short sales and deeds-in-lieu of foreclosure.

Great to hear, don’t you think?

We feel this is yet another testament to the incredible work by CDPEs being done on behalf of homeowners who need the most assistance. Short sales look to continue their leadership in the marketplace, and we look forward to releasing more information to our members on Freddie Mac and Fannie Mae’s HAFA programs on August 1, 2010.