If you’re underwater on your conforming, conventional mortgage, you may be eligible to refinance without paying down principal and without having to pay mortgage insurance. Important Note: Fannie Mae and Freddie Mac are scheduled to provide full details of the program, including information to lenders, by Nov. 15. The FHFA says some lenders may be [...]
Reporting from Washington — For years the federal government prohibited the use of Federal Housing Administration mortgage financing by buyers purchasing homes from sellers who had owned the property for less than 90 days. The idea was to prevent speculators from defrauding the government through quick flips of houses — often involving straw buyers and [...]
Housing Advocates Pan Anti-Foreclosure Program’s Results // By Mary Kane 12/10/09 1:54 PM Julio Angulo was evicted from his Virginia home last December. (American News Project) It was last December when Julio Angulo ignored the bitter cold and sat on a rusted patio chair in the front yard of his foreclosed home in suburban Manassas, [...]
For as much as the foreclosure filing statistics can be astounding — over 300,000 homes were served last month alone — the prevalence of foreclosures depends on where you live.
Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site (www.homepath.com) that are closed within this period may receive up to 3.5% of the final sales price for: Closing costs; The purchase of [...]
Ok all you savvy investors and scrupulous buyers… here is the news you have been waiting for. FHA has lifted the 90 day anti-flipping rule temporarily! In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan announced Friday a temporary policy that will expand [...]
Versus 2008, foreclosures are up 21 percent nationwide and that’s a big number, but a deeper look at RealtyTrac’s annual reports reveals a more positive undertone on the housing market.
