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Home Affordable Refinance Program Opens New Doors For Distressed Homeowners

Friday, March 20th, 2009

4 to 5 million homeowners in owner-occupied borrowers with conforming Fannie Mae or Freddie Mac loans?? are going to be receiving help from The Obama Administration.????The new program will help to refinance up to 105 percent of the current market value of their properties. That plan is to help homeowners refinance thier homes when they […]

Homebuyers Face New Fees From Fannie Mae

Monday, March 16th, 2009

It’s not what home buyers, sellers and refinancers want to hear, but what they need to know. Fannie Mae and Freddie Mac are ratcheting up their mandatory fees and toughening credit-score and down-payment rules as of April 1.?? Most major lenders already are tacking on the higher fees, effectively raising costs to consumers immediately and […]

President Obama Offers Up $75 Billion Foreclosure Life Line

Friday, February 20th, 2009

President Obama announced Wednesday that he will be making $75 Billion available to help 9 million homeowners who are facing foreclosure.?? Obama declared the need for drastic action in the face of the growing economic crisis and stated that the funding will help to keep the housing crisis from wreaking further havoc on our already […]

Fannie Mae Drops 4-Property Limit for Investors

Wednesday, February 18th, 2009

Investors around the country are cheering as Fannie Mae announced this week that they are lifiting the 4 property limit for investors.?? Fannie Mae’s official announcement reads:?? “Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors. Experienced investors play a key role in the housing recovery.” This is great news […]

Freddie Mac Is Opening The Doors To Workouts On At Risk Loans

Friday, February 6th, 2009

Freddie Mac??is opening it’s doors to??the influx of borrowers requesting loan modifications or other workouts.?? Freddie will be employing the help of third party servicers to help service Alt A and other types of High Risk Loans.?? The new plan will help keep at-risk borrowers in their homes and avoid foreclosures. Under the new program […]

Top US Banks Offering Loan Modification Packages

Wednesday, January 28th, 2009

Major US lenders have??announced they are aggressively reworking mortgage loans to help homeowners remain in their homes.?? The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac loans, along with the HOPE NOW alliance of lenders, launched a “Streamlined Modification Plan”??in December. IndyMac Federal Bank also announced a systematic and streamlined loan modification […]

House Rebate.com’s Short Sale Program: Sell Your Home at No Cost and Avoid Foreclosure

Wednesday, January 14th, 2009

Consumers can now save their credit and avoid foreclosure by selling their home using the “Short Sale” process. For the first time, HouseRebate.com is now offering its Short Sale plan to troubled homeowners. The homeowner can sell their home even if their loan amount is greater than the value of the home with no out […]

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, […]

US Mortgage Rates Falling

Monday, December 15th, 2008

U.S. mortgage rates dropped the most they ever had in at least seven years at the end of November as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank???s benchmark rate had failed. The average rate for a 30-year fixed mortgage fell to about 5.5 percent. […]

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 […]

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