foreclosure specialist: Cheer Up, The Worst Is Yet To Come! - 01/12/10 11:56 PM
Cheer Up, The Worst Is Yet To Come!
Ooooh! Eeeeee! Aaaargh! The entire housing market has been, will continue to completely collapse around our ears!! What, with the efforts of the Obama Administration, the Treasury and the Federal Reserve, not to mention the slow and eventual turn-around in unemployment, plus the banks repetitive foreclosure moratoriums, the upcoming HAFA (Home Affordable Foreclosure Alternatives Program) to standardize short sales and complement the federal HAMP (Home Affordable Modification Program), how could one ever, EVER, EVER consider BUYING a house while prices are at just stupid record lows, and rent instead!
As Foreclosure and Short … (9 comments)
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foreclosure specialist: Why a Short Sale is Better than a Foreclosure - 01/05/10 10:50 PM
Why a Short Sale is Better than a Foreclosure
1. Regarding any future Fannie Mae Loans for a primary residence:
Foreclosure- A homeowner who loses a home to foreclosure is ineligible for a Fannie Mae backed mortgage (FHA insured) for a period of 5 years. Short Sale- A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae (FHA insured) backed mortgage after only 2 years.
2. Regarding any future Fannie Mae loans for a non-primary residence:
Foreclosure- An investor who allows a property to go to foreclosure is ineligible for a Fannie Mae … (3 comments)
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