Many experts are of the opinion that Fannie Mae and Freddie Mac played a leading role in the financial crisis. These two fall under the GSE category of Government Sponsored Enterprises. This group of financial services enhances credit flow to certain focused economic sectors to make them more transparent and efficient – agriculture, education and [...]
The foreclosure situation in the 9 county San Francisco Bay area is as worse as it is elsewhere. The distressed home owners are amazed. But there is a short-cut to come out of the melee with some dignity – instead of forfeiting their homes to full-fledged foreclosure and eviction. It is the “short-sale” route which [...]
Symbiotic! A perfect word to describe this popular trend! One man’s woe become other one’s profits, someone’s urgency to sell off, paves way for profits to somebody else. The trend that was prevalent in the 90s is back yet again and it’s looming all over. Just to put more light over the issue and clarify [...]
One man’s poison is another man’s meat. Nothing can be more true in Contra Costa County and San Jose region where the curse of foreclosures have turned into happy breeding and hunting grounds for mosquitoes infected with the West Nile virus. This was from reports coming in from Vector Control. Tim Mulligan said that a [...]
The government will pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for successful short sales or “deeds in lieu” transactions. It will also spend up to $1,000 to help defray the cost of getting holders of second mortgages to release their liens so these transactions can be completed. Short sales have accounted [...]
The federal government projected that 19 of the nation’s biggest banks could suffer losses of up to $599 billion through the end of next year if the economy performs worse than expected and ordered 10 of them to raise a combined $74.6 billion in capital to cushion themselves. Read Full Story Tags: Housing, Lending, [...]
To help enhance the integrity of the home appraisal process in the mortgage finance industry, in March 2008, Fannie Mae entered into an agreement with our regulator – the Federal Housing Finance Agency (FHFA) (then the Office of Federal Housing Enterprise Oversight) – and the New York Attorney General’s office to adopt certain policies relating [...]
Please use the self-assessment tools provided on this web site to see if you are among the 7 to 9 million homeowners who may be able to benefit from MakingHomeAffordable.gov Tags: Bail+Out, Banks, Lenders, Loan+Modification
