So many renters of homes find themselves evicted or in libo when the house they rent goes into foreclosure through no fault of their own.
Fannie Mae is in the process of devising a new national policy that applies to non-owner-occupied homes. It will halt evictions and allow tenants to remain in their rental homes even though the properties they [...]

Fannie Mae and Freddie Mac announced today that they are suspending foreclosure sales of owner-occupied homes from November 26, 2008 to January 09, 2009. Forecloaure sales for second homes and investment properties will not be suspended.
They are doing this while they create new procedures for the streamlined loan modification plan that I discussed in my post dated [...]

The answer to this question could be in the difference between your Loan Servicer and your Note Holder.    

Recall the classic Christmas movie, It’s a Wonderful Life.

In “George Bailey” days, the Bank or S&L that originated your loan was also likely to remain your Note Holder for the entire term of your loan or [...]

Today, a unified effort on the part of the Federal Housing Financing Agency (FHFA), Fannie Mae and Freddie Mac, and the 27 loan servicers of the Hope Now program announced a new, streamlined plan to speed-up loan modifications for distressed homeowners.
The plan will help qualified homeowner’s (with Fannie Mae and Freddie Mac loans) facing foreclosure [...]

10/31/08

There was discussion this week about a new FDIC Plan that is expected to guarantee up to 3 million troubled mortgages of homeowner’s facing foreclosure. The face value of the program will likely be $500-$600 billion.

The plan is expected to encourage mortgage holders (even hedge funds, investment banks, etc.) to restructure the mortgages so [...]