fannie mae: Fannie Mae Homes Over Market Value
- 01/29/13 01:06 AM
Several agents in Arizona and I am sure other areas as well, have been having difficulty getting Fannie Mae to offer homes at current market value. Many Fannie Mae short sales or foreclosed homes have been difficult to sell as they have been priced well above the current market value. Agents are having difficulty with short sales and even after providing comps to Fannie Mae, homes still are not reduced. We are hoping something is done soon to correct this issue and help homeowners prevent foreclosure and help home buyers purchase homes at market value. A petition has been started … (1 comments)
fannie mae: Administration Announces Changes to HAMP
- 01/27/12 03:16 PM
Administration Announces Changes to HAMP "The Obama administration has announced changes to its flagship foreclosure prevention initiative – the Home Affordable Modification Program (HAMP). Among the changes, borrowers who are struggling because of debt beyond their mortgage will be eligible for a secondary evaluation with more flexible debt-to-income criteria, and eligibility will be extended to investor-owned homes that are used as rental properties. The administration is also giving principal reductions a bigger role within the program, tripling incentives for investors that agree to write down an underwater borrower’s principal balance and offering these same incentives to the nation’s two biggest mortgage … (0 comments)
fannie mae: News for the Unemployed with Mortgages...
- 01/09/12 07:28 AM
Fannie Mae recently announced that they may have relief offered for those who are currently unemployed and have mortgages through them or Freddie Mac. Those eligible could have a up to 12 months of reprieve from paying their mortgage, or a reduced payment. Freddie currently allows up to 6 months for the unemployed, however with the unemployment rates ever increasing -- this increase in forgiveness period may be a relief for many!
Fannie Mae announced a similar program is to be implemented as well: "These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of … (0 comments)
Several agents in Arizona and I am sure other areas as well, have been having difficulty getting Fannie Mae to offer homes at current market value. Many Fannie Mae short sales or foreclosed homes have been difficult to sell as they have been priced well above the current market value. Agents are having difficulty with short sales and even after providing comps to Fannie Mae, homes still are not reduced. We are hoping something is done soon to correct this issue and help homeowners prevent foreclosure and help home buyers purchase homes at market value. A petition has been started … (1 comments)
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