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Fannie Offers Mortgage Forbearance to Investors

Default-Servicing News reported last Friday that Fannie Mae will offer payment reduction and forbearance assistance to second home owners and investors, much like it has been offering for some time now to primary homeowners.

“Mortgage giant Fannie Mae said this week that it will retire its HomeSaver Forbearance (HSF) program and replace it with [...]

October 25th, 2009 | Tags: , , , | Category: Ocean City MD Real Estate, Real Estate - National News | Leave a comment

Homes: About to get much cheaper

Yahoo Finance is reporting today a projected 11 percent plus national home price reduction forecast.

“Home values are predicted to drop in 342 out of 381 markets during the next year, according to a new forecast of real estate prices.

Overall, the national median home price is predicted to drop 11.3% by June [...]

October 20th, 2009 | Tags: , , , | Category: Real Estate - National News | Leave a comment

Short Sales: A Fraying Lifeline for Homeowners

From Businessweek, word that lenders are tightening up their guidelines for short sales.

“A record one-third of borrowers owe more on their mortgage than their properties are worth, notes research firm First American CoreLogic. The number of underwater homeowners will only continue to rise since values are still falling. And if distressed borrowers can’t [...]

October 7th, 2009 | Tags: , , , , | Category: Real Estate - National News | Leave a comment

A Look Ahead To the Great Resetting

The Washington Post has a interesting article today about the potential tidal wave of foreclosures headed our way due to the resetting of millions of adjustable mortgages. According to the Post article:

“Millions of adjustable-rate mortgages are going to reset in the coming years, possibly to higher interest rates, creating the prospect of a [...]

October 6th, 2009 | Tags: , , , | Category: Real Estate - National News | Leave a comment