Diana Olick - No New Bailout
“It all started with a Reuters article titled, “An August Surprise from Obama?” It suggests that a forced principal writedown program would be funneled either through the existing Home Affordable Refinance Program—which allows borrowers with current Fannie and Freddie loans who owe up to 25% more on their loans than their homes are worth, to [...]
DSNews.com - 1.7 Million GSE Loans at Least 60 Days Past Due
The number of loans held by Fannie Mae and Freddie Mac that were 60-plus-days delinquent stood at 1.7 million at the end of the first quarter of 2010, the two companies’ conservator said in a report to Congress this week. While the volume of past dues may seem like an extraordinary negative weight on a [...]
Short Sales - Why Banks Accept Them
I am often asked by newbie investors why banks are so willing to accept short sales, taking far less on the property than they are owed. It’s difficult for most people to wrap their head around why a bank, or any lender for that matter, would accept 40%, 30%, or many times even less as full payoff for a [...]
