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New Fannie Mae Credit Checks Impact Cincinnati Real Estate Sales
Effective June 1, 2010 Fannie Mae is mandating a number of additional qualifications for each mortgage application. These additional mandates are intended to ensure that the information collected from buyers when they apply for a mortgage are the same as … Continue reading
Posted in Cincinnati Real Estate, Mortgages and Finance Tagged additional qualifications, application process, borrowers, Cincinnati Real Estate, credit checks, credit scores, Fannie Mae, general services administration, lenders, mortgage application, real estate agent, real estate sales Comments Off
New Home Affordable Foreclosure Alternatives Program Rules Impact Cincinnati Real Estate Market
The Federal Government has recently implemented another program designed to assist home owners in financial trouble. The government has already rolled out the Making Homes Affordable Modification Program (HAMP) designed to help homeowners modify their mortgages. The new Home Affordable … Continue reading
Posted in Cincinnati Real Estate, Home Seller Resource, Mortgages and Finance Tagged borrowers, Cincinnati Real Estate, closing costs, creditors, deficiency judgment, financial hardship, financial incentives, financial trouble, first mortgage, foreclosure, foreclosures, HAFA, home inventory, junior lien, lien holders, loan modification, making homes affordable, mortgage adjustment, mortgage debt, mortgage investors, mortgage servicers, promissory note, relocation assistance 2 Comments
Federal Government Exerts Pressure on Lenders to Modify Mortgages
The Federal Government is looking to increase pressure on many mortgage lenders and banks to follow through with the loan modification that began under the ‘Making Homes Affordable Program’. In the program borrowers renegotiate their monthly payments to a lower level … Continue reading
Posted in Mortgages and Finance Tagged banks, borrowers, Cincinnati Realtor, federal government, foreclosures, loan modification, local market, making homes affordable, michael barr, mortgage companies, mortgage lenders, Mortgages, property values, treasury secretary, trial period Comments Off
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