Mortgage Foreclosure & Refinance Resource

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].
In [...]

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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 plan [...]

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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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