Showing posts with label fannie mae. Show all posts
Showing posts with label fannie mae. Show all posts
Tuesday, March 12, 2013
Wednesday, August 22, 2012
New Short Sale Guidelines for GSEs Will Make Process Easier
More Short Sale changes coming! Should be for the better. If you have been thinking about this as an alternative for you, do it before year end in case the tax relief acts expire.
New Short Sale Guidelines for GSEs Will Make Process Easier
New Short Sale Guidelines for GSEs Will Make Process Easier
Tuesday, July 3, 2012
Thursday, April 5, 2012
Short Sale Update!
On Friday, March 9, the Obama
Administration announced updates to the Home Affordable Foreclosure Alternative
(HAFA) program. Created in 2009, HAFA is a government-sponsored initiative
assisting all Home Affordable Modification Program (HAMP) eligible homeowners
in avoiding foreclosure through short sales and deed-in-lieus.
The
HAFA updates will go into effect on June 1, 2012, and will allow more
distressed homeowners to seek assistance. Most importantly, the deadline for
submitting for HAFA eligibility will be extended a full year, from December 31,
2012, to December 31, 2013.
Other
major changes include:
- The removal of occupancy requirements. Previously, HAFA required homeowners to have lived in the property within the last 12 months.
- $3,000 relocation incentives will be limited to properties occupied by an owner or tenant at the time of the short sale.
- Mortgage payments will be allowed to exceed 31% of the homeowner's gross monthly income. This update will allow a homeowner to stay current on her mortgage and still qualify, minimizing the overall impact to her credit.
- Secondary lienholders may receive up to a maximum of $8,500, up from $6,000 previously.
- And one of the most dramatic changes: The Credit Bureau Reporting will be Account Status Code 13 (paid or closed account/zero balance) or 65 (account paid in full/a foreclosure was started), as applicable.
With
these updates, a homeowner can be current on their mortgage, qualify for HAFA,
continue to make their payments, and execute a short sale with minimum impact
on their credit!
According to: CDPE Newsletter: April Issue
Monday, March 19, 2012
What You Need to Know about Cancellation of Mortgage Debt | RISMedia
Good information about debt forgiveness...
What You Need to Know about Cancellation of Mortgage Debt | RISMedia
What You Need to Know about Cancellation of Mortgage Debt | RISMedia
Thursday, March 8, 2012
Realty Times - Obama Administration Cuts FHA Refinancing Fees, 3 Million Homeowners Could Benefit
This is a good savings for first time home buyers looking to take advantage of this buyers market.
Realty Times - Obama Administration Cuts FHA Refinancing Fees, 3 Million Homeowners Could Benefit
Realty Times - Obama Administration Cuts FHA Refinancing Fees, 3 Million Homeowners Could Benefit
Friday, March 2, 2012
Friday, February 24, 2012
Former Home Owners Wait for Second Chance | Realtor Magazine
Great information if you are waiting to be able to purchase after a short sale or Deed in Lieu.
Former Home Owners Wait for Second Chance | Realtor Magazine
Former Home Owners Wait for Second Chance | Realtor Magazine
Thursday, February 23, 2012
Friday, February 3, 2012
Thursday, February 2, 2012
Tuesday, January 31, 2012
Friday, January 27, 2012
Thursday, January 26, 2012
Wednesday, January 25, 2012
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