Fannie Mae and Freddie Mac won’t be perusing foreclosures during the holidays. Even those facing HELOC foreclosure are off the hook – at least for a few weeks. MarketWatch reports: “Fannie and Freddie will not foreclose on occupied homes from Nov. 26 to Jan. 9. Fannie said it will reach out to 10,000 affected borrowers [...] [...more]
Government sponsored enterprises Fannie Mae and Freddie Mac may no longer be in trouble, thanks to a generous resolution passed by the House. The new bill gives these organizations access to an unlimited amount of money, which can be used to purchase mortgages from struggling lenders. Not everyone appreciates today’s decision. A Seeking Alpha blogger [...] [...more]
Fannie Mae (the largest national provider of home loan funds) recently issued new rules that will affect many HELOC customers. The Boston Globe reports: “Fannie Mae will no longer allow homeowners to refinance loans it either owns or has packaged into bonds at typical loan-to-value ratios in areas with falling home prices if they’re going [...] [...more]
