With the new HARP 2.0 many borrowers are uncertain about government loans and how to determine if they have a government backed loan which are Fannie Mae or Freddie Mac. If your mortgage is owned by Fannie Mae or Freddie Mac, you may be eligible for a Home Affordable Refinance to take advantage of lower interest rates. Your [...]
Home Affordable Foreclosure Alternatives (HAFA) Program If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed-in-lieu of foreclosure through HAFA SM. The benefit of a HAFA short sale is that you are no longer responsible for the difference between what [...]
For those who like to keep up with what’s going on in the mortgage companies, you might want to know what changes were made to Fannie Mae guidelines. Here’s a little cheat sheet to give you an idea: Guidelines are changing across 9 separate areas of the mortgage approval process. Collectively, the updates figure to [...]