Fannie Mae says it will get tough on borrowers who engage in "strategic defaults," or walk away from a home that’s worth less than what’s owed on the mortgage even if they can afford to keep.
Fannie Mae to Charge Strategic Defaulters, for Everything.. Fannie Mae Cracks Down on Strategic Defaulters. Fannie Mae to retroactively charge mortgage servicers for foreclosure delays.
About the author: The above Real Estate information on Fannie Mae strikes against strategic defaults was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at firstname.lastname@example.org or by phone at 508-435-5356.
There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. As a result, hundreds of billions of dollars were lost as defaults and.
About 12 percent of residential-loan defaults in February were strategic, meaning homeowners decided. freddie mac and larger rival fannie mae cracked down on buy and bail in 2008 by banning in most.
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Essentially, employers will provide workers with down-payment money. that might arise should a worker default on a second mortgage or unsecured loan extended by a lender. The forgivable-loan option.
Fannie Mae to Charge Strategic Defaulters, for Everything. Fannie Mae is sifting through borrower data to determine who is strategically defaulting and who is not after announcing more efforts this week to crack down on those who walk away from their homes.
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Fannie Mae announced that they are changing the rules so that there is a seven year lockout for borrowers who are considered "strategic defaulters". WASHINGTON, DC – Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure.
MBA: mortgage applications down 18.6% last week The Department of Agriculture share of total applications move forward, increasing from 0.6% last week to 0.7% this week. The MBA reported that mortgage interest rates. rate for 5/1 ARMs retreated.
Daily Real Estate News | June 24, 2010 | Fannie Mae Cracking Down on Strategic Defaults Fannie Mae announced plans Wednesday to get tough with strategic defaults. Fannie said that borrowers who default when they are able to pay won’t be able to get another fannie mae mortgage for seven years. The current wait is five years. While that might.