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
Investors everywhere are cheering at the news that Fannie Mae has rescinded the 4-property limit.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
Whether I'm reading the newspaper or reading articles online, I'm always looking for positive news. In a move that I think is a positive step forward, JPMorgan Chase has extended loan modifications to investor-owned loans. According to the article, loan modifications on investment properties could be anything from lowering the principal of the loan, to adjusting the interest rate or the payment
Posted by: Carleton Sheets in Real Estate Market, Real Estate, Loan, Interest Rate, Housing Market, Foreclosure, Economy, commercial real estate, Commercial, balloon mortage on
Jan 19, 2009.
Just like you, I have been reading reports in the media that housing prices are not at the bottom yet. Whether this is true or not remains to be seen, but I continue to remain optimistic that the real estate market will turn around---it has always rebounded in the past, and I firmly believe that it will continue to do so in the future.
However, a colleague of mine at the Professional
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
