Freddie Mac has over 1.5 million homes for sale at any one time. These are obtained as a result of the previous buyers defaulting in the loans. In April last year, they were planning to sell of 300 homes in Southern California and Las Vegas. The quick sale would allow buyers to receive an $8000 [...]

When buying a home, the buyer should carefully choose their agents and get only the best deals from a trusted institution. To ensure that you’re entering a safe transaction, Fannie Mae is one of the institutions that help consumers deal with the banks and fund your loans by issuing debt securities. It has helped the [...]

Fannie Mae sounds like a girl’s name but it is only a colloquial term for Federal National Mortgage Association (FNMA). Before buying homes with their aid, it would be best to know a little history of the institution to provide a background before trusting them. Fannie Mae started in 1938. During the Great Depression, President [...]

Carrots and requests are not having any effect on banks to prevent foreclosures – they are going along their own way not making loans permanently modified, despite inking contracts. The borrowers are observing their side of the deal but the banks, without fear of any reprisals are continuing with their foreclosure game and seizing property [...]

The banks are most unhappy with a new plan by the new Obama government to set up new regulatory controls over financial bodies. There is a proposal to set up an agency whose only mission would be to see to the interests of consumers. But banks are ready to take on the challenge to prevent [...]

It is not so much sub-prime mortgages but recession that is at the root cause of rising foreclosures. In 2008 it was the toxic loans that had triggered the foreclosure wave but in the current year it is the bad days that are responsible for throwing out people from their houses. Compared to the previous [...]

Foreclosure news is taking precedence over all other issues – including those coming in from Afghanistan, Iran and South Korea. The international emergency that foreclosures have created poses a greater threat to the stability of the world than blood baths elsewhere in the world. This is the view of Joel p. Trachtman of Fletcher School [...]

Ohio is fed up with continued pace of foreclosures – a House panel has placed a six month moratorium on foreclosures. To deter the process the bill has also increased the fees for filing. The ultimate target is to see that the lenders and borrowers amicably work out the problem. The residents of Ohio will [...]