President Obama announced Wednesday that he will be making $75 Billion available to help some 9 million homeowners who are facing foreclosure. Obama declared the need for drastic action in the face of the growing economic crisis and stated that the funding will help to keep the housing crisis from wreaking further havoc on our [...]
Tag Archives: Fannie Mae
Do You Have A Loan With Freddie That Could Use A Workout? Help Is On The Way.
Freddie Mac Is rolling out a new plan to handle the influx of borrowers requesting loan modifications or other workouts. Freddie will be employing the help of third party servicers to help service Alt A and other types of High Risk Loans. The new plan will help keep at-risk borrowers in their homes and avoid [...]
Nation’s Major Banks Offering Loan Modification Packages
Major national lenders have announced they are aggressively reworking mortgage loans to help homeowners remain in their homes. The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac loans, along with the HOPE NOW alliance of lenders, launched a “Streamlined Modification Plan” in December.
IndyMac Federal Bank also announced a systematic and streamlined loan modification program implemented by [...]