Homeowners across the United States who are undergoing financial hardship could avoid foreclosure under a plan announced on Nov. 30 by the U.S. Treasury Department. Under the plan, millions of at-risk homeowners could be free of mortgage debt without going through foreclosure, and given $1,500 for relocation.The Treasury plan, which potentially applies to 75 percent of the mortgages in the U.S., including those backed by Freddie Mac or Fannie Mae (those two organizations are currently devising guidelines), provides incentives for lenders and homeowners for completing Short Sales - transactions in which the lender … (0 comments)
short sale: Happy Holidays HUD! Here's another house for you
- 12/10/09 05:12 AM
Nearly ninety days ago, my solid-gold pre-approved first-time buyer started shopping for a home. They chose a property that was being promoted as a potential short sale. I did my research, and found three liens on the property -- one primary and two small subordinates. However, the first and "third" were both FHA, both from the same lender -- and shame on me for assuming we were negotiating as a package. They submitted an offer. Seller hired a short-sale specialist attorney. We were told to give it 10-12 weeks. No problem. The first surprise came when negotiations between the primary (FHA … (1 comments)
U.S. Plan Will Help Homeowners Avoid Foreclosure;)
;)
