Fannie Mae, Freddie Mac and HOPE NOW, along with the Treasury and Federal Housing Finance Agency (FHFA), devised a free market plan to help only those homeowners whose mortgages are guaranteed toxic. In compliance with the Bush Administration doctrine – assist no homeowner who can make his payments or can be foreclosed profitably. [Sarcasm homegrown]. [...]
Entries Tagged as '“mortgage modification”'
Roundup of Lenders Participating in the Streamlined Mortgage Modification Plan
November 13th, 2008 · 1 Comment
Tags: "mortgage modification" · Government Bailout
Residential Capital, 5th Largest Mortgage Servicer Also Supports Streamlined Modification Plan
November 12th, 2008 · No Comments
Following the lead of many other mortgage servicers, Residential Capital has joined the mortgage lenders in supporting help for homeowners. The Chairman and CEO, Thomas Marano in response to the Streamlined Mortgage Modification Plan ssued the following statement: “Residential Capital, LLC (ResCap) strongly supports the actions taken today by the Federal Housing Finance Agency, the [...]
Tags: "mortgage modification" · Avoiding Foreclosure
Streamlined loan modification program to start on December 15, 2008
November 11th, 2008 · 1 Comment
Fannie Mae and Freddie Mac’s regulator announced Tuesday that the housing finance giants will implement a sweeping plan to prevent distressed borrowers from losing their homes to foreclosure. The new program, which goes live December 15, aims to speed up the loan modification process by using a more-streamlined protocol. Here are the details: The new [...]
Tags: "mortgage modification" · Government Bailout · Mortgage Refinancing