HOPE NOW Releases May Short Sale Numbers

Day: July 15, 2012

HOPE NOW Releases May Short Sale Numbers

According to Faith Schwartz, executive director of HOPE NOW, short sales are drastically helping their overall foreclosure prevention efforts. The month of May brought nearly $38,000 completed short sales, bring the program’s total to over 900,000. In addition, 63,000 homeowners received permanent, affordable home loan modifications, with more than 17,500 through HAMP and 45,000 through proprietary…  Continue Reading

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FHFA Keeps REO Pilot Program Moving Forward

In February, the Federal Housing Finance Agency started a pilot program to solicit bids from qualified investors to buy 2,500 single-family Fannie Mae foreclosed homes. The sale pools were offered in geographically concentrated areas around the country. Investors were thoroughly vetted in a rigorous evaluation process on several factors, including financial strength, asset management experience,…  Continue Reading

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“Know Before You Owe” Proposed

The Consumer Financial Protection Bureau this week unveiled its proposed “Know Before You Owe” form. This short, simple 3-page form will summarize the costs and risks of a loan in three pages. It is designed to make it easier to shop for a mortgage and help avoid costly mistakes. If approved, this form would replace…  Continue Reading

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