Posts Tagged Freddie Mac

Is that Foreclosed home worth the wait?

Although some states, including Florida, have put forth measures to speed up the process, and the federal government has been more lax in the requirements, the extensive requirements have created a log jam of homes. Florida is one of the states that have judicial factors involved in the process, resulting in an even greater accumulation than other states.Although some states, including Florida, have put forth measures to speed up the process, and the federal government has been more lax in the requirements, the extensive requirements have created a log jam of homes. Florida is one of the states that have judicial factors involved in the process, resulting in an even greater accumulation than other states.

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HARP 2.0 Intends to help more homeowners, but who qualifies?

The original HARP program which was created in 2009 helped less than 30 percent of the homeowners it intended to aid by lowering interest rates on existing mortgages. Why was HARP so unsuccessful? Strict guidelines, including loan-to-value ratio, eliminated much of the pool of potential candidates who otherwise might have benefited from the program.The original HARP program which was created in 2009 helped less than 30 percent of the homeowners it intended to aid by lowering interest rates on existing mortgages. Why was HARP so unsuccessful? Strict guidelines, including loan-to-value ratio, eliminated much of the pool of potential candidates who otherwise might have benefited from the program.

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Foreclosure Settlements Expiring for Homeowners

Time has run out for millions of homeowners who lost their home to foreclosure in 2009 and 2010 to have their cases reviewed for errors. As part of a settlement between federal bank regulators and mortgage servicers, homeowners whose cases were found to have errors may have been entitled to compensation ranging from hundreds to even thousands of dollars.Time has run out for millions of homeowners who lost their home to foreclosure in 2009 and 2010 to have their cases reviewed for errors. As part of a settlement between federal bank regulators and mortgage servicers, homeowners whose cases were found to have errors may have been entitled to compensation ranging from hundreds to even thousands of dollars.

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Federal Guidelines Expediting Short Sale Procedures

The Federal Housing Finance Agency has heard the plight of homeowners, buyers and lenders and has now issued new guidance requirements intended to expedite the process for Fannie Mae and Freddie Mac backed loans.The Federal Housing Finance Agency has heard the plight of homeowners, buyers and lenders and has now issued new guidance requirements intended to expedite the process for Fannie Mae and Freddie Mac backed loans.

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