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fhfa: Beware! Not All Note Modification and Short Pay Negotiators Are The Same! - 12/19/08 06:50 PM
There are options out there for struggling homeowners, albeit only a few truly helpful to these families trying to figure out how to stay in their homes. One program is the Streamlined Modification Program, a legitimate program that represents the efforts of a collaboration with the Federal Housing Finance Agency, the Department of Treasury and the members of the HOPE NOW Alliance. Some changes were announced last week for this Streamlined Modification Program:
"On Friday December 12, Fannie Mae announced more specific details about the Streamlined Modification Program (SMP) that was announced by the Federal Housing Finance Agency (FHFA) on November 11. … (12 comments)
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fhfa: Distressed Homeowners Frequently Asked Questions - 11/11/08 04:14 PM
In conjunction with the Blog Post "Distressed Homeowners, More Help Is On The Way", here are some questions and answers:
Q. Can I apply even if I'm not 3 months or more behind on my mortgage payments?
A. Not for this program, but there may be other options available to you. Call your lender to see what options are available to you.
Q. Should I stop making my payments so I'll be approved for a Note Modification?
A. If you intentional default on your mortgage, the lenders will not approve your request for assistance.
Q. What is a Note Modification?
A. A Note Modification … (2 comments)
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fhfa: Distressed Homeowners, More Help Is On The Way - 11/11/08 04:07 PM
Do you own a home, one you have been struggling with making the payments on? Have you given up hope of keeping your home, and stopped making your mortgage payments? Is it your wish to be able to stay in your home, if only the payments on it were more affordable?
Homeowners there are rays of sunshine in all the gloom in the housing market. A streamlined approach is being rolled out to help distressed homeowners wanting to stay in their homes. By December 15, 2008, servicers of loans sold to Fannie Mae and Freddie Mac - this is roughly 58% … (4 comments)
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fhfa: U.S. Home Buyers – Can We Talk? - 10/22/08 06:11 PM
Federal Housing Finance Agency Mortgage Metrics Report was released today, including the Real Estate Owned (REO) Acquisitions. During first quarter 2008, REO acquisitions averaged 10,054 per month with 5,406 classified as prime and 4,648 classified as nonprime mortgage properties. Sounds pretty horrible, doesn't it?
Do the numbers released today by the Federal Housing Finance Agency (FHFA) in this report, the agency that is the conservator of Fannie Mae and Freddie Mac operations, reflect what you are seeing/hearing in the news? This report shows in 1st half of 2008, more of the homes these enterprises received back through foreclosure proceedings were due … (4 comments)
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Karen Pierce Cooper
Medford,
OR
More about me…
Karen Pierce Cooper| Housing Counselor |Oregon
Address: PO Box 4126, NMLS#223305 , Medford, OR, 97501
Office Phone: (541) 779-6691
Email Me
Bringing 28 years of experience providing Southern Oregon and California Home Buyers and Homeowners | Serving all of Jackson County Oregon including Ashland- Talent- Phoenix- Medford-Jacksonville- Ruch- Central Point- White City- Eagle Point- Shady Cove- Gold Hill, as well as Josephine County including Grants Pass- Merlin- Wilderville | Helping Southern Oregonians on the road to fulfilling the American Dream of Homeownership - and staying there! ,
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