Archive for Loan Modification
Government Takes a Stronger Hold On HAMPSince the Making Home Affordable plan has been implemented, about 300,000 homeowners have enjoyed an average reduction of $500 a month. Unfortunately, however, this has done very little to improve the housing market. via Government Takes a Stronger Hold On(more…)
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Seven Year Penalty for Strategic DefaultStrategic default is often defined as the conscious decision of a borrower to stop payments on an otherwise affordable mortgage because the property is worth less than the mortgage balance. The recent trend of strategic foreclosures has sparked concern and(more…)
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The Home Affordable Foreclosure Alternatives ProgramTrying to reduce the rising number of foreclosures in the U.S., the Treasury Department introduced a new federal program that makes it easier to process a short sale for people unable to keep their homes. Home Affordable Foreclosure Alternatives (HAFA)(more…)
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The Impact of ForeclosureThe best way to avoid foreclosure is to pursue alternatives like a short sale or a loan modification. Don’t run from the obligation, but instead confront it head on with an experienced Realtor and your lender to determine the best approach.
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Good News about Short SalesNew rules from the U.S. Treasury could figure prominently in Central Florida’s housing market, where about one in every five existing-home purchases involves a short sale. Key Points of the New Rules: Emerges between now and April; Only banks that(more…)
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Fannie Mae and Freddie Mac Loan ModificationI just explored this great opportunity if you are having a hardship and you live in your primary residence. If your 1st mortgage is backed by Fannie Mae or Freddi Mac, the FED has approved the HAMP program that will(more…)
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