Fannie Mae and Freddie Mac to mitigate foreclosure...any comments or experiences to share

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Real Estate Broker/Owner with Action Investments and Hawaii Pacific Realty BRE Lic# 01481898

Great news this week from our Government to help those who are more than 90 days late on their mortgage.  Let's keep track on Active Rain if the results are as promissed and people are having any luck.

According to the CAR Market Matters Advisory, "The Federal Housing Finance Agency (FHFA) this week announced a new government program to help mitigate foreclosures on loans owned or guaranteed by Fannie Mae and Freddie Mac.  The program is targeted toward borrowers who are at least 90 days delinquent in their mortgage payments and have a high loan-to-value ratio.  Reduced interest rates and longer terms of as much as 40 years may be offered to qualified borrowers.  Some economists believe that areas such as California, Florida, and other high-cost areas will benefit the most from the program due to larger debt loads and higher rates of nontraditional mortgages".

Anyone who has been working with this program please let the rest of us in on the news.  Happy Blogging!!!

Posted by

Jason Hector, Real Estate Broker, CA Dept of Real Estate Lic. #01481898
(818) 357-9658 Cell
(866) 791-3290 Fax
jhector@socal.rr.com
www.jasonhector.com
Broker--Action Investments
11630 Seminole Circle
Northridge, CA 91326
(800)-626-6469 Phone
(866)-791-3290 Fax

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Rainer
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Jason Ian Hector
Action Investments and Hawaii Pacific Realty - Porter Ranch, CA
Real Estate Broker in California and Hawaii

For more information, see my website at www.jasonhector.com

Feb 08, 2009 01:00 PM #1
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Rainer
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Jason Ian Hector

Real Estate Broker in California and Hawaii
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