fannie mae: Fannie Mae Intensifies Penalties for Strategic Defaulters - 06/24/10 11:25 AM
Despite being able to afford their monthly mortgage payments, some borrowers are walking away from their homes based on the sheer fact that the property is currently worth less than what is owed. This phenomenon, dubbed “strategic default,” isn’t looked upon kindly, as it unnecessarily adds to the growing number of foreclosures across the nation.In an effort to sway homeowners away from this growing trend, Fannie Mae announced policy changes on Wednesday designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure.Under these changes, defaulting borrowers who walk away and had the capacity to pay or did … (1 comments)

fannie mae: Fannie Mae Hones "First Look" Program for REO Property Sales - 05/04/10 03:27 AM
Fannie Mae initially rolled out its First Look initiative last fall. Under the program, the GSE only considers offers from those seeking to purchase a home as their primary residence and public entities during the first 15 days that a property is listed.Julia Dugger, Fannie Mae’s senior manager of marketing communications, says the program has seen a great deal of success throughout the country, and is accomplishing its mission of building stronger communities by ensuring the GSE’s repossessed homes don’t continue to sit vacant while an investor markets the property to potential tenants.But Dugger explained to that the execution of … (1 comments)

fannie mae: Fannie Mae Extends Its Seller Assistance Incentive - 04/28/10 03:07 PM
As part of its ongoing efforts to stabilize neighborhoods across the country, Fannie Mae announced Tuesday that it has extended its seller assistance incentive on properties purchased through HomePath, the company’s REO disposition operation.Through this program, qualified buyers receive 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of selected appliances. In addition, Fannie Mae said these properties may be eligible for special HomePath mortgage and HomePath renovation mortgage financing, which offers prospective buyers an opportunity to purchase properties with as little as 3 percent down.As previously reported, the seller assistance program … (0 comments)

fannie mae: Debate Continues over Fannie and Freddie's Future - 02/27/10 09:14 AM
The debate over the future of Fannie Mae and Freddie Mac continues to heat up. The National Association of Realtors (NAR) released an unpublished proposal to DS News this week that advocates converting the two GSEs into government-chartered, non-profit corporations.NAR said in its proposal, “Unlike a federal agency, the new government non-profit authorities will function as self-sustaining organizations, without needing annual appropriations from Congress and without a profit motive. NAR believes that any organization with a private profit and public loss structure, as the GSEs are presently structured, is inherently flawed.”NAR says because of the two firms’ existing infrastructure and prominent … (0 comments)

Rick Bauer, St Louis MO Real Estate Auctioneer Realtor CAI GRI (FatherTime® Auctions and Real Estate)

Rick Bauer

St Louis MO Real Estate Auctioneer Realtor CAI GRI

Saint Louis, MO

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FatherTime® Auctions and Real Estate

Address: 2850 Lawndell Drive, St. Louis, MO, 63144

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Father Time Auctions is a full service provider of real estate disposition services including live open-outcry, sealed bid and online real estate auctions. Residential / Commercial / Farm and Land We are Real Estate Brokers and Agents that sell real estate to the highest bidder at auction.



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