Posts Tagged ‘freddie mac’
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 »
Home Affordable Modification Plan FAQs
The Mortgage Market Guide® said I could copy and paste the following as I wish. Well, my wish is to share it with my readers on the Eugene Loan Guy Blog. This has some of the very best information that I have seen about the Housing Plan announced by Secretary Geithner last week and answers a lot of questions about loan modifications. Now, one of the things that I have stressed is that you should not need to pay someone to do a loan modification. However, there are times that it is just impossible to get everything done because the lender is being difficult. In that case, you might want to hire a modification company with a good track record. Ask for references! I have added some emphasis. Read More
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 »
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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