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Fannie Mae Foreclosure Help Article
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Foreclosure Help Stories
from:Because of the subprime mortgage crisis, many homeowners are finding themselves in a situation where they can no longer afford their mortgages. Subprime mortgages are loans that are given to borrowers that do not qualify for a prime rate mortgage. Because of the increased credit risk, these mortgages come with a higher interest rate. However, many of these mortgages also come with a very low “teaser” rate that is only available for the first few years of the loan. When the teaser period is over, the interest rate will usually double, or sometimes triple. When this happens, many families are faced with a mortgage payment that is not possible. Foreclosure becomes a very real problem. A source of hope for these families are the many foreclosure help stories that are told on various news outlets. Many home owners have been able to find help in avoiding foreclosure. Once source of these foreclosure help stories is the US Department of Housing and Urban Development web site. HUD is responsible for managing the foreclosure help programs that are available to individuals facing foreclosure. Many Americans have been able to find help by accessing the information found on HUD’s web site.
Many of these foreclosure help stories tell of financial counseling that helped turn the situation around. These counselors are able to analyze your individual situation, make suggestions and offer programs that best suit your needs. Many times, people in financial difficulties need a professional to help make sense of the situation. These foreclosure help stories that are a result of counseling are encouraging for others facing a similar situation.
Local agencies also offer assistance for those in need of foreclosure help. When researching available programs, be sure to check with your local municipalities. Many have developed local programs. They will also offer foreclosure help stories of others in your area that have been helped by their programs. Often, people facing this type of situation need to know that they are not alone and that there is help available. The HUD web site is a great source of information, offering links to local agencies that offer assistance.
It is important when gathering information concerning foreclosure help that you don’t decide on a program before having all the facts. Some programs are better suited for your given situation. It is best to speck with a professional financial counselor that can help you decide what decision is best for you. Be encouraged that there are many foreclosure help stories that prove that there is help available and that foreclosure is preventable.
Fannie Mae Foreclosure Help News
A federal foreclosure lecture California can do without - Los Angeles Times
A federal foreclosure lecture California can do without Los Angeles Times The general counsel for the Federal Housing Finance Agency, the regulator overseeing Fannie Mae and Freddie Mac, certainly seems to think so. At issue are two bills backed by California Atty. Gen. Kamala Harris to set new rules for the foreclosure ... Reply to comment Special programs to reduce principal on mortgages are attracting praise ... |
Ed DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness - Washington Post
 Bloomberg | Ed DeMarco could hasten end to foreclosure crisis by allowing debt forgiveness Washington Post Everyone is waiting for Ed DeMarco — director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac in their government conservatorship — to rule one way or the other. Whether DeMarco allows forgiveness of some mortgage ... Fannie Mae Won't Seek Aid After Posting $2.7 Billion Profit Fannie Mae posts profit, doesn't need Treasury aid Fannie Mae posts biggest profit since 2007 |
Principal Reductions Won't Solve the Mortgage Mess - Bloomberg
 PBS | Principal Reductions Won't Solve the Mortgage Mess Bloomberg Edward DeMarco, the temporary director of the Federal Housing Finance Agency, continues to endure blistering criticism for refusing to allow Fannie Mae and Freddie Mac to pay for large-scale principal reductions for underwater borrowers (those who owe ... Sorry, But Principal Reductions Won't Solve Mortgage Mess Taxpayer funds used for some principal reductions in California Borrowers' full disclosure is key |
Fannie, Freddie Sign on to California Housing Initiative: Hot Trends - TheStreet.com
 Los Angeles Times | Fannie, Freddie Sign on to California Housing Initiative: Hot Trends TheStreet.com The $2 billion program uses federal funds from the 2008 financial crisis to help borrowers at risk of foreclosure in the state. Fannie Mae and Freddie Mac own about 62% of outstanding mortgages in California, where state officials are modifying terms ... Fannie, Freddie are set to reduce mortgage balances in California Fannie Mae Won't Seek Aid After Posting $2.7 Billion Profit Fannie Mae reports income gain for first time since 2008 |
OCHOPC Presents a free Mortgage Refinance Assistance event Tomorrow in Santa ... - LoanSafe
 Eastern Morning Herald | OCHOPC Presents a free Mortgage Refinance Assistance event Tomorrow in Santa ... LoanSafe Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today's lower rates. Learn about the HARP 2.0 program which may help homeowners whose loans are held by Fannie Mae or Freddie Mac, refinance into a more ... U.S. seeks to make refinancing easier Home Sweet Home Mortgage Rates: Low Mortgage Rates Remain In Place Ahead of Heavy Week of ... |