Buying a pre-foreclosure home is much harder than buying a foreclosure. It sounds counterintuitive, but it’s the truth. This is mainly the case because you have to really seek out pre-foreclosures. Homes that have already been foreclosed are easier to find because it becomes public knowledge. Homes Read more
HUD’s Guide for Homeowners to Successfully Avoid Foreclosure
Last December, the Housing and Urban Development made public a Homeowner’s Guide to Success for mortgage borrowers struggling with their mortgages and in danger of losing their homes to foreclosure.This guide for homeowners emphasizes that expert help is available, at no cost even, at the onset Read more
Freddie Mac Suspends Evictions Nationwide, Foreclosure Sales in Disaster Areas
Borrowers with foreclosed homes owned by Freddie Mac are in for a good news this holiday season: the agency is suspending eviction lockouts nationwide until January next year.This is accompanied by a separate suspension of foreclosure sales in eligible areas hit by hurricanes Irma, Harvey, and Read more
Differentiating Loan Modification, Forbearance, and Repayment Agreement
A lot of people think that lenders are nothing but stern, inconsiderate and heartless people. This is actually very far from the truth.It is true that commercial lenders make money by creating loans. However, without such financing, a lot of us won't be able to afford a home. Lenders Read more
Fannie, Freddie Helped 3.9MM Homeowners Avoid Foreclosure, Says FHFA
Since their conservatorship in Sept. 2008, Fannie Mae and Freddie Mac have undertaken actions that steered 3.9 million troubled homeowners clear of foreclosure or have provided alternatives to mitigate the negative effects of a mortgage default.This is according to a report submitted by their Read more
