freddie mac: Who Stands to Benefit from a Short Sale Vrs Foreclosure ?
- 03/13/09 11:23 AM
We have seen the devastation reaped on homeowners and our communities especially the San Diego Homeowner from foreclosures in record breaking numbers. But what about the Short Sale, is it actually more beneficial than a foreclosure? Yes, and there are more entities than just the homeowner that benefit from the short sale as opposed to the foreclosure. The first beneficiary is of course the homeowner. They benefit 1st by avoiding the often humiliating foreclosure process. While having to move is never pleasant ,they can stay in the home during the short sale process and make their plans for moving in a … (27 comments)
freddie mac: Foreclosures to take a Holiday Break.........no kidding!
- 11/29/08 12:07 PM
From now until January 9th, Fannie Mae and Freddie Mac announced that they are suspending foreclosures, pending the full implementation of a streamlined loan modification program. Loan mods as they are known, is the process by which a homeowner can "workout" a mortgage that better suites their income and ability to pay. The new streamlined loan modification process is scheduled to begin around the middle of December and they are expected to ultimately prevent hundreds of thousands of foreclosures over time. But during this holiday period, Fannie Mae estimates 10,000 homeowners and Freddie Mac estimates another 6,000 homeowners will be helped … (32 comments)
freddie mac: Money for San Diego Mortgages is Available
- 11/03/08 03:21 AM
Kenneth Harney a syndicated columnist for the Washington Post wrote an article that appeared recently in our Union Tribune and condensed all the known information about mortgage money and loan availability for todays Buyers of residential real estate. The essence of the article was about the lack of shortage of money and the credit available to buy homes. He makes a very strong point that it is because the government has backed these loans and that there is much less risk, at least for now. So these loans are available at good rates Now, it is acknowledged that attaining credit today is certainly not as … (5 comments)
freddie mac: Do You Understand Why Fannie and Freddie are so Important to You?
- 09/12/08 11:56 AM
From the Voice of San Diego Real Estate We all know that Fannie and Freddie are now in conservatorship of the US Government and that there is new leadership at the helm in both of the GSE's (Government Sponsored Enterprises because they were chartered by Congress to create a more stable mortgage market) . Each of these companies have agreed to issue 1 billion of senior preferred stock to the US Government and they also must issue warrants, in effect allowing the government to buy up to 80% of its common shares. The real issue is that in 2010 when supposedly … (28 comments)
freddie mac: Congress Encourages Increase In Fannie and Freddie Portfolio Loans
- 10/20/07 04:36 PM
With a tidal wave of expected foreclosures looming in the horizon, there is a move by Congress to expand the government-sponsored finance corporations.Increasing the portfolio size over the current $700 billion limit for each Fannie Mae and Freddie Mac is opposed by the current administration. The additional risk could end up being the taxpayers burden. That risk is now being encouraged by Congress with the proviso that Freddie and Fannie have a strong independent regulator overlooking these ostensibly hybrid public/private corporations even though having government backing. More » … (2 comments)
freddie mac: The Federal Governmant Is Only Timidly Stepping Into The Lending Crisis.
- 09/05/07 06:44 AM
Several steps were announced that help may be on the way for homeowners with adjustable mortgages that are resetting to higher monthly payments. A plan was proposed to help borrowers to refinance their loans using resources from the Federal Housing Administration. The FHA is depression era agency that was created to help low and moderate income families afford homes. The program is called FHA Secure. 60,000 borrowers who have fallen behind on payments, because their mortgage rates reset higher would be able to refinance FHA insured loans. This is a big change as the FHA as it currently does not now insure … (2 comments)
freddie mac: Aunt Fannie and Uncle Freddie are coming to the Rescue ..... Yee Haa !
- 07/29/07 01:47 AM
Aunt Fannie Mae and Uncle Freddie Mac are coming to the rescue of the sub-prime lending fiasco. The sub-prime lending market saw a huge escalation in its business and market share that coincided with the housing boom of the last 5 or 6 years. With So many Adjustable Rate loans generated, the proverbial "stuff" hit the fan" when borrowers were faced with adjustments in their adjustable interest rate loans. With a slowing Buyer's market and many of the housing markets facing at least some decrease in home values, it left little or no room for converting many of these adjustable rate loan to fixed … (76 comments)
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We have seen the devastation reaped on homeowners and our communities especially the San Diego Homeowner from foreclosures in record breaking numbers. But what about the Short Sale, is it actually more beneficial than a foreclosure? Yes, and there are more entities than just the homeowner that benefit from the short sale as opposed to the foreclosure. The first beneficiary is of course the homeowner. They benefit 1st by avoiding the often humiliating foreclosure process. While having to move is never pleasant ,they can stay in the home during the short sale process and make their plans for moving in a … (27 comments)
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