According to a New York Times article, Arizona is trying to fix its massive home foreclosure rate by helping to pay a portion of mortgage debt – but only if the banks will kick an equal share for principal reduction as well. The bank’s pay down of mortgage debt would be in the form of [...]
Entries Tagged as 'Fannie Mae'
Arizona Wants to Pay up to $50,000 in Loan Forgiveness per Home – Fannie, Freddie Object
October 11th, 2011 · No Comments · Mortgages
Tags: debt forgiveness·Fannie Mae·Freddie Mac·moral hazard·Mortgages·principal reductions·robo-signing
Is It Illegal if My Bank Won’t do a Loan Modification?
October 14th, 2009 · 3 Comments · Mortgages
Q. I am having great difficultly getting a loan modification on my mortgage. I am 100% confident that I meet the criteria for the loan modification program. After initially agreeing to do the modification, they now say I don’t meet the requirements and stopped taking my calls. Can I sue? My story: I followed the [...]
Tags: appraisal·assessor's office·building inspection·Fannie Mae·Freddie Mac·illegal·loan modification·Making Homes Affordable Program·mortgage modification·refinance
Restructuring Mortgage Programs For Underwater, Subprime and Jumbo Loans
May 28th, 2009 · 2 Comments · Mortgages
The “Making Homes Affordable” Program introduced by the Obama administration is not limited to Fannie and Freddie Mac loans, also known as conventional or conforming loans . There are actually two sets of loan programs under the Making Homes Affordable (MHA) program. One program is called Home Affordable Refinance, and is for conforming loans on [...]
Tags: conforming·Fannie Mae·Freddie Mac·loan restructuring·Loans·Making Homes Affordable·Mortgage·Refinancing
What Can You Expect After a Bankruptcy? The Time Line
January 9th, 2009 · 15 Comments · Bankruptcy
Recently, someone called this article to my attention, which extolls the advantages of bankruptcy. It listed several advantages to doing it and seemed to gloss over the detriments. It’s written by Jane Bryant Quinn, who is a very respected writer by many journalists (including myself) about personal finance. http://www.newsweek.com/id/177749?GT1=43002 To get my two cents in, [...]
Tags: After Bankruptcy·Credit Cards·Fannie Mae·FHA·Freddie Mac·Mortgages·Secured·Time Line·Unsecured
