This was the view of the California Reinvestment Coalition (CRC) about the agencies new principle reduction policy. Kevin Stein, associate director at CRC said “Today’s announcement by FHFA that principle reduction loan modifications will be available on a limited basis for Fannie Mae and Freddie Mac (“GSE”) loans is the poster child for “way too
Negative Equity Levels Expected to Keep Falling Next Year
December 23, 2013 by
During the third quarter of this year negative equity amounts continued to decline, according to CoreLogic. In this third quarter an estimated 791,000 homes returned to positive equity, but there are still about 6.4 million homes that are considered to be underwater. A home is underwater when it has a negative equity which is where
An Overview Of Real Estate Investing Strategies – Short Sales
September 17, 2012 by
Short sales are currently one of the hottest strategies in real estate investing right now, for a variety of fundamental reasons. But the record market for short sales may be coming to an end soon, as the tax exemption for imputed income will expire at the end of this year. This means that come the dawn of 2013, home sellers will be liable for income taxes on short sales.
FSA Rules in the UK Could Mean Misery for Mortgage Holders
April 5, 2012 by
New rules proposed by the Financial Services Authority in the UK, known as the Mortgage Market Review, are likely to be enforced by next summer, and could create misery for millions of homeowners. According to the Financial Services Consumer Panel, many existing homeowners will face difficulty remortgaging when their current deal comes to an end.
Arizona Lawmaker Wants to Stop Homeowners Walking Away
December 14, 2011 by
A Republican lawmaker in Arizona is attempting to scrap a law in the state that lets homeowners walk away from their home when it’s underwater, claiming that the rule is unfair on banks, reports MyFoxPhoenix.com. Jack Harper told MyFoxPhoenix that his proposal would only affect future mortgages should it come into effect, meaning that current
