Mortgage Foreclosure & Refinance Resource

The Financial institutions; S.A.F.E. Mortgage Licensing Act of 2008 bill has just passed the Georgia State House that is aimed at protecting your house by reducing mortgage fraud.
The plan requires that all mortgage lenders undergo a criminal background check. It also calls for more training for loan officers, and allows state lawmakers to investigate them. [...]

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Fannie Mae and Freddie Mac may no longer be able to lobby, but consumer advocacy groups sure can — and they’re already pressing regulators and legislators to see Fannie and Freddie enact wide-scale loan modifications for troubled borrowers. Think fdic and IndyMac, but on a much grander scale.
Four U.S. Senators (Charles Schumer (D-NY), Robert [...]

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In addition to the foreclosure prevention provisions, the new law offers a one-time tax credit of up to $7,500 for first- time homebuyers.
It’s not exactly free money, rather an interest-free, 15-year loan. The homeowner would repay 1/15th of the amount to the government each year, $500 if they qualify for the full $7,500.
No single borrower [...]

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