Mortgage Foreclosure & Refinance Resource

The fdic gave the loan modification a nice marketing boost by sending out loan modification offers to 25,000 borrowers with IndyMac mortgages. That landed a lot of headlines and even more homeowners wondering where their good deal is. Fortunately, this is not an original idea or reserved for banks in receivership. It is [...]

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This month, Fannie and Freddie increased the fees they charge lenders for many loans, effectively bumping up interest rates for many borrowers who have marginal credit. The companies also tightened their policies on refinance loans that enable an owner to take cash out of a home.
Fannie Mae was the first of the two mortgage companies [...]

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“Sales are probably not going to rebound any time soon because the mortgage conditions continue to get tighter,” Mr. Gault said. He said that the excess supply meant that “prices have still got to come down some more.”
Home sales have begun to stabilize as sharply reduced prices lured buyers back into the market in July, [...]

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