Posts Tagged ‘foreclosure’
Loan Modification – What you can and should do!
March 23rd, 2009 | 
Author: I have written before about the loan modification business and I think it will probably be quite big for the next several months, just from what I have seen so far from the housing plan. The Federal Reserve is telling people that loan modifications can be handled by dealing directly with your loan servicer, but what I am hearing from a lot of people is that the loan servicers are not being very responsive to the request for a loan modification. Additionally, I am being told that some of the “non-profits” are not answering their phone or making appointments up to 90 days in advance to help people that are having difficulty with their payments. Read More
Posted in Adjustable Rate Mortgage, Eugene Oregon, Foreclosures, Lane County Oregon, Loan Modification, Mortgage Loans | 
Tags: change in rate, change in term, delinquent payment, fannie mae, forebearance, foreclosure, freddie mac, interest rate change, Loan Modification, lower payment, mortgage modification | 
3 Comments »
Homeowner Affordability and Stability Plan Announced
Posted in Bank Owned properties, Eugene Oregon, Foreclosures, Lane County Oregon, Mortgage Loans, Springfield Oregon |
Tags: 80% loan to value, fannie mae, federal bail out housing plan, foreclosure, freddie mac, home purchase, no mortgage insurance, president obama housing plan, refinance with no mortgage insurance, stability plan |
3 Comments »
Fannie Mae HomePath – New Deal for Foreclosures
Foreclosures, how to buy them and maybe most importantly, when. I have been discussing how to use the FHA 203k Streamline as a great way to buy your personal residence and be able to fix it at the same time. Effective today, we have another program to help purchase foreclosures (or REO – Real Estate Owned) properties that are owned by Fannie Mae. This new program is called HomePath. This is an unusual program because it allows not just personal residences, but also second homes and investment properties as part of the program. Read More
Buying Your Home: Do You Want to Buy a Foreclosure?
Foreclosures are a problem, not just for the person losing their home or for the lending institution that is now owning and marketing the home, but also for the person buying the foreclosed home. Now, I know that everyone thinks that buying a foreclosed property is the way to go in this market to be able to save a heap of money, but in reality it doesn’t work as well or as often as you might think. Read More
What happens to renters in a foreclosure?
There have been a number of newspaper stories about people being put out of their rental homes even though they had paid their rent on time because the home was being foreclosed. Some even lost their security deposit in the transaction. With the announcement of a three month reprieve on Fannie and Freddie foreclosures, renters were also getting a reprieve. The following is a two article series by Rich Dansereau from the Positive Real Estate Professionals blog site. If you are a renter and are concerned about what will happen to you in a foreclosure, take a close look at the second part. (These is Fannie and Freddie rules only and don’t apply to other lenders.) Read More
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