Mar 1st 2012 11:38AM
Fannie Mae waded further into the foreclosure pool on Monday as it released new details on its plan to sell its repossessed homes as rental properties. The pilot program, first announced in August as an effort to clear the mortgage giant's backlog of foreclosures, is launching with an initial offering of 2,490 residential... Continue Reading »
Feb 15th 2012 1:51PM
With an estimated 3.6 million more foreclosures expected over the next two years, the government-backed mortgage giants have a proposition for you: How'd you like to take a couple (hundred) homes off their hands? In a recently announced program, the Federal Housing Finance Agency, which regulates the quasi-government... Continue Reading »
Feb 6th 2012 10:00AM
WASHINGTON -- President Barack Obama is rallying support for his plan to expand government assistance to homeowners, pressuring Congress to help lower lending rates for millions of strapped homeowners. Obama, in his radio and Internet address Saturday, urged the public to "get on the phone, send an email, tweet," and... Continue Reading »
Jan 3rd 2012 11:20AM
By Les Christie NEW YORK -- Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration. In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the... Continue Reading »
Oct 5th 2011 1:30PM
The $8 billion Federal Housing Administration Short Refi program, launched in September 2010 to refinance underwater mortgages, helped 301 borrowers in 11 months, according to Department of Housing and Urban Development data analyzed by HousingWire. The program was initially expected to reach between 500,000 and 1.5... Continue Reading »
