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 […]

Pitfalls to Avoid during the Loan Modification Process

Thursday, January 22nd, 2009

A Loan Modification is a valuable tool in helping homeowners get back on track with their loans and protect their homes from foreclosure, but often even after a loan modification people end up right back where they were, and sometimes even worse.?? In fact, more than half (55%) of loans modified in the first nine […]

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, […]

Your Bank and Your Hardships

Monday, January 5th, 2009

Banks Don’t want to foreclose on your house! When a mortgage company forecloses on a property more often than not they lose money, and they lose even more when they have to take ownership of that property. The good news is that there are alternatives to foreclosure that benefit both the borrower and lender. The […]

Take Notes And Review Everything Carefully

Wednesday, December 17th, 2008

Always Be Prepared In this stressful situation with so much information being exchanged, it is easy to forget things or miss the details. Don’t rely on your memory, it can fail you. Make sure you have everything written out in front of you. Never make a call without first reviewing your notes, and having a […]

Keep The Lines Of Communication Open

Thursday, December 11th, 2008

It doesn’t take long for your lender to contact you once you start to fall behind in your payments. Your lender will be eager to learn about your circumstances, and find out if you will be able to resume regular payments and how soon. It is very important you take any calls from your lender, […]

Want a Loan Modification? Work Hard On Your Hardship Letter

Thursday, December 11th, 2008

Continuing in our series on how YOU can negotiate with your lender to avoid foreclosure and KEEP YOUR??HOME. we are looking at some tips for negotiation with your lender. ??Your Hardship Letter is your chance to lay-out your case for Forbearance or Loan Modification before your lender.?? You need to make your lender see your […]

Fannie and Freddie Offering Homeowners An Early Holiday Gift

Thursday, December 11th, 2008

Troubled Mortgage Giants Fannie Mae and Freddie Machave decided to give struggling homeowners an early holiday gift, they have announced that suspend eviction on certain properties until after the holiday season while they work on their previously announced loan modification program.?? The suspension applies to 10,000 borrowers with Fannie, and 6000 with Freddie in occupied, […]

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 […]

Government Take Over to Bolster San Diego Real Estate

Thursday, December 11th, 2008

According to Sandicor, there were 2,562 San Diego home sales in August 2008. Approximately 32 percent of these sales were San Diego bank owned properties due to San Diego foreclosures. To view the current list of San Diego Foreclosure properties, visit HouseRebate.com. ?? ?? The Federal Government takeover of Fannie Mae and Freddie Mac has […]

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