Fannie Mae and Freddie Mac recently announced that from November 26, 2008 to January 9, 2009, there will be a “stay of execution” for borrowers in jeopardy of foreclosure. In other words, they have provided an initiative to their servicer network requiring that all foreclosure and eviction proceedings shall be suspended during this time period, [...]
Entries Tagged as 'mortgage crisis'
“Merry Christmas”: Fannie and Freddie announce Holiday Foreclosure Suspension
November 25th, 2008 · 1 Comment · Mortgages, Real Estate
Tags: FMAC·FNMA·foreclosure·housing crisis·housing rescue·loan modification·mortgage crisis·rescue plan
Credit Crunch Timeline: How Did We Get Here?
September 2nd, 2008 · 2 Comments · Banking, Consumer Debt, Mortgages, Real Estate
A question that most certainly been addressed by many, and no doubt will continue as a hot topic for longer than we’d like. But it warrants repeat as so many of us did not heed the signs… just a quick synopsis of events leading us to our current fate, beginning in 2004:
Years of home price [...]
Tags: credit crisis·Credit Crunch·home value decline·housing crisis·mortgage crisis·real estate decline·subprime meltdown·tighter lending standards
People burning their home rather than being foreclosed on?
March 19th, 2008 · 1 Comment · Credit Bureaus and Scores
This would be funny if it wasn’t so sad. In spite some people have burned their homes.
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This link goes to a CNN video article about how many homeowners facing foreclosure are making sure the lenders don’t benefit from taking their home…by burning them down.
http://www.cnn.com/video/#/video/us/…ning.homes.cnn
