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The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
In the task at hand to make headway against foreclosures and the depressed housing market. Fannie Mae and Freddie Mac entered a new phase on December 9, 2008 for a fast-track program meant to make "hundreds of thousands of mortgages affordable to people who can't currently meet their monthly payments." [16]
He concluded that the extent of equity in the home was the key factor in foreclosure, rather than the type of loan, credit worthiness of the borrower, or ability to pay. [80] Number of U.S. residential properties subject to foreclosure actions by quarter (2007–2012) Increasing foreclosure rates increases the inventory of houses offered for sale.
This Christmas holiday, a number of families will be allowed to stay in their homes for a short while longer. Mortgage giants Fannie Mae and Freddie Mac have both announced a two-week moratorium ...
Fannie Mae and Freddie Mac, the two government agencies that back millions of mortgages for Americans will extend moratoriums and evictions on single-family foreclosures until December 31st 2020.
An important COVID-era protection against foreclosures is about to end, and some banks will not extend the benefit. Currently, Americans are protected from losing their homes through a foreclosure...
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia. [ 3 ] [ 4 ] The FHLMC was created in 1970 to expand the secondary market for mortgages in the US.
By Les Christie Homeowners facing foreclosure just received an early Christmas present: They won't be evicted from their homes over the holidays. Mortgage giants Fannie Mae and Freddie Mac ...