Lenders are starting to crack down on "Strategic Defaults". Fannie Mae has announced stiffer penalties to consider if you decide to walk away from a mortgage that you can afford to pay. Starting in the fall, Fannie Mae will disqualify borrowers for a period of seven years if they choose to default on their mortgage even though they have the.
· Fannie Mae announced steps Wednesday to discourage borrowers from abandoning their homes if they can pay their mortgages and they don’t seek workouts. Under Fannie’s current guidelines, such borrowers must wait seven years after a foreclosure to apply for a mortgage backed by Fannie.
Homebridge appoints Jimmy Yerman as its new Mid-Atlantic regional manager S&P predicts more home price declines through 2011 Metro Vancouver home sales prices predicted to drop next year – as detached homes make up a smaller proportion of sales in Vancouver. BCREA does not make previous forecast reports available online, but Muir said the last time the association predicted.In order to grow its presence in the Mid-Atlantic region, Homebridge recently announced jimmy yerman joined the company as a regional manager. In this new role, Yerman will be responsible for the recruitment of associates along the Maryland, Washington, D.C., and Virginia corridor, according to the company.
Fannie Mae will also take legal action to recoup the outstanding mortgage debt. and then maybe Fannie wouldn’t have to deal with strategic defaults.. whose upside down $150k on their home.
FHA streamline refinances increase 42% in July Freddie mac: brexit drives Rates Down, Refi Up July 25, 2016 By Justin McHood Brexit has played a major role in lowering mortgage rates, which is expected to boost U.S. housing activity particularly refinancing, Freddie Mac said in an outlook for the month of July.
Fannie Mae to Charge Strategic Defaulters, for Everything by JON PRIOR Friday, June 25th, 2010, 4:06 pm Fannie Mae (FNM: 0.3871 +1.87%) is sifting through borrower data to determine who is strategically defaulting and who is not after announcing more efforts this week to crack down on those who walk away from their homes.
Valuation Partners adds Denise Neely as vice president The Baidu deal adds to a flurry of fundraising activity by Chinese technology. Baidu said. zhu guang, senior vice president at Baidu and general manager of the current financial services business,
Greenspan was asked to defend a variety of actions he took as Federal Reserve chairman – resisting recommendations to use the Fed’s powers to crack down on subprime mortgages. for mortgage giants.
ADP optimistically predicts flat job growth Jobless claims reach 3-month low – A survey by payroll processor ADP said private businesses added just 139,000 jobs. flat for February and January, a sign that the weak sales could persist through March and April. Consumer spending.
Cracking Down on Strategic Defaulters by. Andrew M. Lieb, Esq. on. Wednesday, October 16, Fannie Mae and Freddie Mac are supposed to evaluate every defaulter’s ability to repay the past due amount on their mortgages. Even after foreclosure, these two government-sponsored enterprises and.
· Kevin and Fred talk about strategic defaulting and touch on the ethics of it. Also, as promised. Here are some of the Fannie Mae info: This is for conventional loans. Currently the waiting period for purchasing a home after a foreclosure is 5 years. As of October 1st 2010 the waiting period will be extended to 7 years.
"Low down-payment loans coupled. scores and zero down payments, Fannie Mae and Freddie Mac bought more of the loans to meet those targets. After house prices peaked in 2006 and then fell as much as.
Nearly two-thirds of Americans sense double-dip recession Nearly half of unemployed not looking for work, poll finds – The poll Wednesday found that many jobless Americans are reluctant to make significant changes to boost their chances of landing a job. Nearly two-thirds said they don’t. Jobless benefits may be.