Search results
Results From The WOW.Com Content Network
Foreclosures are concentrated in particular states both in terms of the number and rate of foreclosure filings. [129] Ten states accounted for 74% of the foreclosure filings during 2008; the top two (California and Florida) represented 41%. Nine states were above the national foreclosure rate average of 1.84% of households. [130]
Single family homeowners with property financed through Fannie Mae or Freddie Mac get similar relief. Foreclosures and evictions on such properties are suspended at least until May 17, and ...
According to the court’s opinion, in the current foreclosure action, Freddie Mac owns the note, while the originator—which since merged into Capital One—retained the mortgage.
Freddie Mac is doing its part to educate homeowners about foreclosure in a new video series on YouTube called "Get the Facts." It almost sounds like a sex education campaign, but the informational ...
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]
Federal Reserve data found more than 84% of the subprime mortgages in 2006 coming from private-label institutions rather than Fannie and Freddie, and the share of subprime loans insured by Fannie Mae and Freddie Mac decreasing as the bubble got bigger (from a high of insuring 48% to insuring 24% of all subprime loans in 2006). [81]
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.
For premium support please call: 800-290-4726 more ways to reach us