Tag Archives: homeowners

David Lazarus: Freddie Mac bets against homeowners

As the Treasury Department asks whether Freddie Mac bet against homeowners, consumer columnist David Lazarus asks another question: What would George Bailey …

Banks Keep Breaking Into Houses, And Homeowners Are Fighting Back

Banks Keep Breaking Into Houses, And Homeowners Are Fighting Back
But the contractors they hire to do this work sometimes force their way into houses and condominiums that are still occupied by their owners, changing out locks and removing what they find inside, including family heirlooms and other valuables …
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Paying Homeowners to Short Sale with HAFA North Scottsdale Real Estate

www.North-ScottsdaleRealEstate.com As part of the Governments Home Affordable Modification Program (HAMP) the treasury department unrolled the Home Affordable Foreclosure Alternatives Program (HAFA) which will pay homeowners to sell at a loss. This is in an effort to encourage more troubled homeowners to go through a short sale rather than a foreclosure. HAFA starts April 5th, 2010. 00 to the home owner to ease their transition to a new home relocation assistance Servicing bank will get 00. Another 00 can go toward a second loan, if there is one The payments come out of the Billion mortgage modification plan. As well, the program is supposed to help streamline and standardize the short sale process. Lenders and investment pools owning many home loans get more money from short sales Community and the lender doesnt have to deal with a vacant home (Up to 50% of vacant homes get ransacked) Borrower gets assurance the lender will not sue for unpaid mortgage balance Federal Program would require banks to accept offer if it is at or above the value assigned by a real estate agent Borrower must prove hardship and that foreclosure is immanent Here is the program outline from Home Affordable Modification Program www.hmpadmin.com Here is a Ney York Times article talking about Home Affordable Foreclosure Alternatives Program: www.nytimes.com

Alex goes into the top stories of the past week including a story about mobile naked body scanners for the streets of america and also brain scanners coming to airports in the future.Yes, it’s 1984 with a Buck Rodgers twist here in the 21st century Police Grid. prisonplanet.tv Geithners Fed told AIG to hide backdoor bailout Homeland Stupidity January 10, 2010 The Federal Reserve Bank of New York, during its 0 billion bailout of American International Group, Inc., instructed AIG to omit details of its purchase of certain toxic assets from a December 24, 2008, Securities and Exchange Commission filing, according to e-mails between the company and the Fed released Thursday. Protesters yell at people looking out the windows of an AIG office building during a rally against government bailouts for corporations in April, 2009. Using bailout money provided by the Fed, AIG paid a number of banks 100 percent of the face value of credit-default swaps, contracts tied to subprime home loans, at a time when other institutions were negotiating deep discounts for the paper. The names of the banks were also omitted from the SEC filing. The information was finally disclosed in March 2009 after the SEC challenged AIGs filing, prompting lawmakers and analysts to call the transactions a backdoor bailout of the banks. Topping the list of banks which benefited from the backdoor bailout of their toxic paper were Goldman Sachs and Societe Generale SA. The e-mails, released Thursday by Rep
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HARP 2 Refinance Program for Underwater Homeowners

Look-up links for Fannie Mae and Freddie Mac: ww3.freddiemac.com www.fanniemae.com www.mortgagesphd.com Mortgages PhD Las Vegas, NV If you’re upside-down in your home loan, you could be able to refinance. There is a completely new government program available called HARP II. This plan focuses on home loans which are properties of the two main government sponsored enterprises (Fannie Mae and Freddie Mac. They could own your house loan even if you pay the original bank. The mortgage had to have been implemented prior to June 1, 2009. You have to additionally be current on your payments. If your lender still handles your mortgage, it may not still own it. In fact, loan companies commonly receive the payments and process the mortgages even after they sell the loan to Fannie Mae, Freddie Mac, or some other purchaser. Do not assume the financial institution in which you make your installments to owns the loan. Furthermore, you’re better off not calling your bank directly since the client care associate might be unaware as to whether your loan is still in the original bank’s portfolio. Not to mention the fact that you’ll be waiting on hold for a long time. This is exactly why you should look into who really owns your mortgage to find out if you can be considered. This can be accomplished by checking the Fannie Mae and Freddie Mac sites. After you have performed that, you can proceed to the subsequent stage. If the original mortgage is owned by Fannie Mae or Freddie Mac, you can
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