4 Short-Sale Myths Dispelled

4 Short-Sale Myths Dispelled

Several myths persist about short sales. Tracy Mooney, senior vice president at Freddie Mac, dispels some of the following common myths on the mortgage giant’s blog, including: 

Myth 1: “A short sale is not an option for me because I’m current on my mortgage payments.

Freddie Mac Fact: Even if home owners are current on their mortgage payments, they may still qualify for a short sale. They must meet general eligibility requirements, the home must be their primary residence, and their debt-to-income ratio must be more than 55 percent. read more....