U.S. Housing Market
U.S. Housing Market – Real Estate Mortgage Black Hole
U.S. Housing Market
Recently the headlines were stating that Fannie Mae is asking for an additional $7.8 billion dollars just to cover its losses in the July through September quarter of this year!
For my consistent readers you may recall that on September 5, 2008, I published a post titled: Govt. Take Over Of Fannie Mae and Freddie Mac Could Cost Billions. Also, again on April 4, 2010 I published another post entitled Fannie Mae and Freddie Mac – walking dead. So today’s announcement is no surprise and should be looked on as just one of many future calls for billions in bailout. Read more 
Government Should Refinance All Home Mortgages To 4%
Perer Schiff talks about Bill Gross home mortgage bailout idea, Fannie Mae, Freddy Mac & the Government Motors IPO
The massive debt in the system, public and private, must be eliminated. We (the USA) can do it now in a planed way and there will be pain. Or, we can keep kicking the can down the road and wait till it comes crashing down on its own and the pain will be so much worse because the damage we have done to the economy will be so much worse. We need to stop digging our own grave with all these bailouts and TARPS. Read more
Home Affordable Foreclosure Alternatives
San Diego condominium
Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac last week released guidelines for implementing the Treasury Dept.’s Home Affordable Foreclosure Alternatives Program (HAFA). The new guidelines apply to loans owned or guaranteed by the GSEs; servicers are required to implement the new policies no later than Aug. 1. Read more
New Home Mortgage Rules
home mortgages
Beginning June 1, a new effort by mortgage giant Fannie Mae to cut down on slipshod underwriting by lenders and frauds by borrowers goes into effect.
Now, your home mortgage lender is likely to order a second full credit screening immediately before closing.
Homebuyers 3.5% Closing Cost Assistance Incentive Extended Through June 30, 2010
homebuyers assistance
Fannie Mae (FNM/NYSE) just announced the extension of its seller assistance incentive on all Fannie Mae-owned HomePath properties. Buyers will receive 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of selected appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on www.HomePath.com by June 30, 2010. Read more
The Government and Mortgage Backed Securities
The Federal Reserve is no longer buying mortgage backed securities from Fannie Mae and Freddie Mac. Some people worry mortgage rates could rise as a result. This video explains why home mortgage rates could increase.