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]
According to a new Freddie Mac report, homeowners took out less money from their home equity lines of credit this year than they did during the same period four years ago. CNN Money reports: “The amount of money Americans pulled out of their homes is at a four-year low as homeowners battle falling home values [...] [...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]
