penalties: Warning - Don't Walk Away from Mortgage Obligations!
- 09/27/10 11:16 AM
Don't Walk Away from Mortgage Obligations Penalties increase for borrowers who "Walk Away", or do "Jingle Mail" with their house keys. Fannie Mae has implemented the policy that penalizes borrowers who walk away despite having the ability to pay. Fannie Mae is also considering legal action to recoup the outstanding mortgage debt from borrowers who defaulted on their loans in areas that permitted deficiency judgments. Fannie Mae plans to monitor delinquencies and WILL come after you. This will even cover borrowers who could not pay, and who did not even bother to complete a workout arrangement. Unless you had an extenuating … (0 comments)
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Ellen Crawford
Alpharetta Real Estate Agents & Alpharetta REALTOR
Don't Walk Away from Mortgage Obligations Penalties increase for borrowers who "Walk Away", or do "Jingle Mail" with their house keys. Fannie Mae has implemented the policy that penalizes borrowers who walk away despite having the ability to pay. Fannie Mae is also considering legal action to recoup the outstanding mortgage debt from borrowers who defaulted on their loans in areas that permitted deficiency judgments. Fannie Mae plans to monitor delinquencies and WILL come after you. This will even cover borrowers who could not pay, and who did not even bother to complete a workout arrangement. Unless you had an extenuating … (0 comments)
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