Mortgage Foreclosure & Refinance Resource

Mortgage giants Fannie Mae and Freddie Mac have directed their network of servicers to halt all foreclosure and eviction proceedings between Nov. 26 2008 and Jan. 9, 2009, meant to give a recently announced rescue plan time to work.
The Streamlined Modification Program, set to launch Dec. 15, enables delinquent borrowers to get a modified mortgage [...]

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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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