New Fannie Mae Plan

Real Estate Broker/Owner with Summit Realty Group- The Future of Real Estate Today!
Fannie Mae intends to file lawsuits against so-called strategic defaulters and force them to wait seven years before obtaining another mortgage backed by the organization. But experts wonder how the firm will determine which home owners defaulted strategically. Experts also question whether the policy is viable given its departure from White House initiatives to bolster the housing market. The policy is intended to force borrowers to pursue short sales or surrender the deed, rather than enter foreclosure, says Fannie Mae.

Comments (3)

Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Hmmm ..... "says Fannie Mae...." today!  I think there is still too many fingers in the proverbial pie to call anything a done deal.  Thanks for the update.

Aug 02, 2010 06:32 PM
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning,

Thanks for the Fannie Mae update. Have a great day.

Aug 02, 2010 06:51 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

That will be interesting to see all the lawsuits filed and the results.

Aug 02, 2010 08:56 PM