More Mortgage Refi Modifications for “Underwater” Borrowers

Posted by: Carleton Sheets in unemployment, Refinance, Real Estate, Obama, mortgage, loan to value, Loan, Interest Rate, Freddie Mac, Foreclosure, Fannie Mae, fair market value, Economy, Credit, borrower, Barack Obama on Jul 02, 2009.

A recent article published by CNNMoney.com reports that the Obama administration has revised its initial mortgage refinancing program to help more borrowers---including those whose homes are valued below their loan amount---qualify for refinancing. The revisions also include stipulations that enable eligible borrowers who are either in default or at risk of defaulting on their loan to lower their

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Fannie Mae Limits Raised Back to 10

Posted by: Carleton Sheets in Rescue, Real Estate Investor, Real Estate, mortgage, Loan, Limit, Investing in real estate, Fannie Mae on Feb 24, 2009.

Investors everywhere are cheering at the news that Fannie Mae has rescinded the 4-property limit. The limit had been decreased to four properties, but recently has been raised to 10 properties that can be financed through conforming guidelines and insured by the mortgage giant.

Although investors could obtain non-conforming financing through other financing sources, it was often more

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Fannie Mae’s New Role ... As a Landlord!

Posted by: Carleton Sheets in Tenant, Renter, Real Estate, Property Management, landlord, Fannie Mae on Jan 15, 2009.

Have you heard the news? Qualified tenants who live in Fannie Mae-owned foreclosures are now being offered alternatives to eviction ... a month-to-month rental option or financial assistance to relocate. This new policy from Fannie Mae should help alleviate a bad situation involving foreclosures where tenants are being evicted---usually without notice!

We've all heard some of the heartbreaking

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New Loan Limit Has Some Investors ‘Up in Arms’

Posted by: Carleton Sheets in Loan, Limit, Freddie Mac, Fannie Mae on Dec 17, 2008.

On December 1, 2008, Freddie Mac and Fannie Mae imposed a four-loan limit on the number of real estate loans that one person can have. Their reasoning was that the lower limit would prevent investors from defaulting on rental properties ... since statistics show that some owners can walk away from an investment property more readily than their own residence.

How does the new loan limit affect

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Unlikely Landlords …

Posted by: Carleton Sheets in Tenant, Renter, Property Management, landlord, Freddie Mac, Foreclosure, Fannie Mae, Eviction on Dec 15, 2008.

As a result of the public outcry from local residents and sheriff departments, and from tenants, Fannie Mae and Freddie Mac have not only postponed tenant evictions from their landlords' foreclosure properties through the holidays---they are working on a proposal to allow qualified tenants to remain in these properties. Another option mentioned in the article I was reading in USA TODAY would be

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What Just Happened on Wall Street?

Posted by: Carleton Sheets in Wall Street, Stock market, Merrill Lynch, Lehman Brothers, Freddie Mac, Federal Reserve, Fannie Mae, Credit crunch, AIG on Sep 17, 2008.

I am both shocked and amazed about what just happened to financial giants AIG, Merrill Lynch, and Lehman Brothers. The downfall of these seemingly stalwart icons in the securities industry is a blow to the financial powerhouses on Wall Street that will trickle down to the American consumer. My friends, it is a tough economic sea we are maneuvering in.

What does this mean in the "big picture"?

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Bailing out Fannie & Freddie---Who Pays the Cost?

Posted by: Carleton Sheets in Freddie Mac, Fannie Mae on Sep 07, 2008.

The federal government defined its housing-market rescue plan yesterday when it announced the takeover of Fannie Mae and Freddie Mac, and agreed to pump billions of dollars into these failing companies---plus assume trillions of dollars worth of debt.

From this point forward, the government will have more control over the housing market than ever before. Instead of being reactionary, it can

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Landmark Housing Bill Offers Alternatives

Posted by: Carleton Sheets in Short Sale, Lease Options, Housing Bill, Freddie Mac, Foreclosure, Fannie Mae on Jul 28, 2008.

The landmark housing bill that was just passed by the Senate this weekend will offer $300 billion in loans for homeowners struggling to keep their homes from foreclosure---plus provide much-needed relief to Freddie Mac and Fannie Mae.

Although I feel that the bill has its positives and negatives, I believe the refinancing aspect---which is voluntary for the lender---will have the most impact.

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The Real Estate Rollercoaster

Posted by: Carleton Sheets in Wells Fargo, Real Estate Market, Positive Thinking, Indymac, Freddie Mac, Fannie Mae on Jul 16, 2008.

Did you hear? Wells Fargo & Co. (WFC) posted a better-than-expected earnings for the second quarter of 2008¾which rallied the U.S. stock market to a 25+ point gain? Although, I admit the fall of IndyMac put a damper on my enthusiasm, overall this is good news.

Up, down, positive, and negative news. The market is difficult to read. Will the Freddie Mac and Fannie Mae "scare" finally signal a

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