More than half of borrowers who have missed mortgage payment deadlines are still in the dark about ways to avoid foreclosure, but that percentage is falling, said a survey released Thursday. Research from government mortgage buyer Freddie Mac said that 57% of late-paying borrowers are unaware of foreclosure alternatives offered by their lenders.
Entries Tagged as 'Mortgage Refinancing'
Freddie Mac Survey: More than half of delinquent borrowers unaware of ways to avoid foreclosure
February 1st, 2008 · No Comments
Tags: Avoiding Foreclosure · Foreclosure Information · Mortgage Refinancing
Study Suggests to Expand FHA Secure Program
January 27th, 2008 · No Comments
The study circulated within the American Securitization Forum says more than 600,000 troubled homeowners could win new mortgage terms if Federal Housing Administration loosened the terms for some of its progams. A wave of foreclosures could be prevented if the largest federal home-ownership program were open to more delinquent U.S. borrowers according to a study. [...]
Tags: Avoiding Foreclosure · Foreclosure Information · Foreclosure Statistics · Mortgage Refinancing
Dodd Proposes Federal Homeownership Preservation Corp To Buy “Very Distressed” Mortgages
January 23rd, 2008 · No Comments
Update: We missed this earlier from the announcement but Dodd also announced that Freddie Mac would purchase up to $20 billion in fixed-rate and hybrid Adjustable Rate Mortgage (ARM) products that will assist families affected by the subprime crisis and help make the market safer for all borrowers. Senate Banking Committee Chairman Christopher Dodd proposed [...]
Tags: Avoiding Foreclosure · Mortgage Legislation · Mortgage Refinancing