Fannie Mae Sets New Condo Occupancy Rules

Tuesday, January 13th, 2009

New Project Eligibility Review Service (PERS) for condo and co-op projects and changes to its condo and co-op project policies have been announced by Fannie Mae. The announcement clarifies how REO units are treated for determining the owner-occupancy ratio. Established projects, where borrowers will occupy the unit or use the unit as a second home, […]

Short Sale Vs. Foreclosure Which Is Better For You?

Thursday, December 11th, 2008

If your financial situation finds you facing foreclosure, there is an option for you to save your credit. You can even sell your home and your lender will pay the commissions and closing costs.If the fair market value of the home is less than your loan balance, there is a process called a Short Sale […]

DEED IN LIEU OF FORECLOSURE

Thursday, December 11th, 2008

An alternative to foreclosure that can benefit both Homeowners and Lenders Due to tough economic times, an increasing number of property owners are facing a mortgage foreclosure. An option in some cases is to offer the lender a deed in lieu of foreclosure instead of a short sale or foreclosure, but what is a deed […]

Categories

Recent Comments

    Top Tags