All Posts Tagged With: "Fannie Mae"
Feds Start New Short Sale & Deed-in-lieu of Foreclosure Options
Large numbers of people facing foreclosure have been helped by the government’s Making Home Affordable program, but what about those who can’t succeed under the plan? Truth is, a lot of people who enroll in the foreclosure prevention program don’t make it. The government reports that through April 299,092 borrowers received permanent loan modifications under [...]
2Jun2010 | Peter G. Miller | 0 comments | Continued
Who Owns My Mortgage?
If you’re looking for a loan modification or short sale it greatly helps to know who owns your loan. There are 50 million mortgages in the U.S. and the good news is that about 60 percent — more than 30 million loans — are owned by Fannie Mae and Freddie Mac. Who owns your mortgage [...]
1Dec2009 | Peter G. Miller | 0 comments | Continued
Mortgages: Do Away With Fannie Mae & Freddie Mac?
The news is filled with stories regarding efforts to dump Fannie Mae and Freddie Mac and replace them with, er, well, no one knows what. Good luck, folks. Fannie Mae and Freddie Mac are now being blamed for following the instructions they received from the federal government. For example, in 2000 the minority loan purchase [...]
6Aug2009 | Peter G. Miller | 0 comments | Continued
Facing Foreclosure? How The Obama Plan Can Help
It was in February that the Obama Administration first announced it would create a mortgage relief program for millions of distressed borrowers. The details of the plan are now out, so it’s possible to see who can be helped — and who can’t. To start, we’re talking about help from Fannie Mae and Freddie Mac. [...]
8Mar2009 | Peter G. Miller | 1 comment | Continued
2009 Mortgage Loan Limits (Updated)
There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits to see how much can be financed with the most-widely originated loans. If you borrow at or below the conventional loan limit for non-government mortgages, you would have what is generally known as a [...]
26Feb2009 | Peter G. Miller | 0 comments | Continued
Fannie Mae & Freddie Mac: Promised Interest Savings Disappear
It was just a few weeks ago when Fannie Mae and Freddie Mac were seized by the Federal government. To this day it is not clear why such a seizure was necessary given that the two companies had lost roughly $5 billion in the first half of the year — but had $95 billion in [...]
20Oct2008 | Peter G. Miller | 0 comments | Continued
What Some Folks Really Know About Bubbles
The idea of a real estate “bubble” is scary. Just the thought of a sudden, wholesale decline in housing prices nationwide is nearly enough to get your mind off the stock market plunge. Almost, but not quite enough. You remember the stock market — that’s the financial setting where there’s been a, er, correction. Let’s [...]
16Sep2008 | Peter G. Miller | 0 comments | Continued
Mortgage Relief for Hurricane Gustav Victims
It’s become a kind of ritual, the word from major mortgage lenders and loan owners providing relief in the face of hurricanes, tornados, fires, earthquakes and other natural disasters. What can impacted mortgage borrowers expect with hurricane Gustav? Looking at past practices from 2005 with Katrina, Rita and Wilma, Fannie Mae, Freddie Mac and most [...]
11Sep2008 | Peter G. Miller | 0 comments | Continued
Is Perfect Credit Required For A Mortgage Loan?
As Fannie Mae has said in its regulations, “Generally, a history that consists of a minor, isolated instance of poor credit or a late payment can be considered as meeting the intent of excellent credit — as long as it is satisfactorily explained and the borrower has other credit accounts with excellent payment records.” Technorati [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
What’s The Difference Between the FHA and Fannie Mae?
The FHA is part of the Department of Housing and Urban Development. FHA was founded in the 1930s and popularized long-term financing with little down. It guarantees (insures) that loans with little down will be re-paid, thus reducing lender risk. Fannie Mae is a former government agency that has been converted into a for-profit government [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
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