Let's talk real estate

June 25th, 2010 10:14 AM

Fannie Mae, Freddie Mac, and FHA financed 95% of new US home loans last year. Fannie Mae has decided they will make mortgages harder to obtain for those borrowers who abandoned a home to foreclosure because the mortgage is larger than the value of the residence. Freddie Mac said it would study Fannie Mae's changes and consider changes to their polices.

Legislation is pending in Congress to ban borrowers from obtaining another FHA loan for life, if they walk away from an FHA loan for strategic default..

Posted by The Bobby Dean Team on June 25th, 2010 10:14 AMPost a Comment (0)
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