Category: Mortgage
Mortgage Deal for Foreclosed Owners will soon be a reality
New York and California will join just about all the other states in a settlement with the nation’s largest banks aimed at helping homeowners struggling with loans bigger than the value of their homes, according to a person familiar with the talks. A few other states were still on the fence as of late Wednesday, [...]
Fannie Mae to sell $2 billion bills on Wednesday
Fannie Mae (FNMA) , the largest U.S. home funding company, said on Monday it plans to sell $2 billion bills on Wednesday, Oct. 19, in a Dutch auction. The auction will include $1 billion of three-month benchmark bills due Jan. 18, 2012, and $1 billion of six-month bills due April 18, 2012. In such uniform [...]
Mortgage help for unemployed disappears
The federal government can’t even give money away to help the unemployed pay their mortgage. A $1 billion program to assist the jobless will likely end up spending only half the funds, at most, because so few people met the strict criteria. The Housing Department, which had to approve the applications for the Emergency Homeowners’ [...]
Mortgages Getting Tough to Finance
Starting Saturday, the beleaguered housing market will confront the latest hurdle to its recovery: The size of mortgages that the federal government can back will be drastically reduced in high-priced regions. When the bubble burst, mortgage banks had virtually stopped lending, except for government backed mortgages, which were capped at $417,000. Buyers of high-priced homes, [...]
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