Realtors applaud streamlined short-sale guidelines

Reduced paperwork, incentives to second-lien holders may boost sales

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Short sales, already on the rise this year, are expected to get an additional boost from a move by federal regulators who oversee Fannie Mae and Freddie Mac to streamline paperwork and offer up to $6,000 to second-lien holders who can derail the process.

Fannie Mae and Freddie Mac will offer up to $6,000 to second-lien holders