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mortgage: Applying for a home loan after a foreclosure or short sale - 12/15/10 02:52 PM
With the current market conditions and the large number of home owners who are facing foreclosure or short sales, this question comes up often, "How long do I have to wait before I can qualify for a mortgage loan after I go through a foreclosure or a short sale?". Fannie Mae, who sets most conventional loan guidelines updated their waiting period guidelines this year. Below is a table showing the various derogatory credit event and the waiting period requirements:

(1) The maximum LTV ratios permitted are the lesser of the LTV ratios in this table or the maximum LTV ratios … (4 comments)

mortgage: Freddie Mac Increases Fees on Some Mortgages - 02/03/09 09:51 AM

REAL ESTATE JANUARY 31, 2009, 12:30 A.M. ET Freddie Mac Increases Fees on Some Mortgages By JAMES R. HAGERTY Freddie Mac posted on its Web site late Friday higher fees that will raise costs for some home mortgage borrowers.
The move by the government-backed mortgage investor follows similar fee increases by its main rival, Fannie Mae, in December. A series of such increases over the past 15 months has drawn protests from the National Association of Realtors and the National Association of Home Builders. The trade groups say Fannie and Freddie are adding costs that deter home buying or refinancing … (0 comments)

 

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