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 [...]
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The trend for loan modifications is shifting and evolving constantly. I believe the short sale syndrome will be replaced with principal reductions. Even the US Treasury endorses principal reductions as a better solution. Housing Wire supports this statement in recent article. So far lenders have been providing been band aid mortgage modifications which result in [...]
Finally the lending industry is realizing loan modifications are truly the better solution to help borrowers keep their properties. Its often been said that it’s in the banks best interest to foreclose, maybe that was true back in the day but in this real estate nightmare it doesn’t seem to be the case. One article [...]