Despite Government Takeover, Fannie Mae Still Bleeding

Past Haunts AIG as Bailout Solution Announced

Loan Modification Alternatives: Short Sale Your Home
Short Selling your home could be the win-win-win alternative to loan modifications. Loan modifications can be expensive for lenders and borrowers. Foreclosures are even more expensive costing lenders billions of dollars. According to a study carried out by the congressional Joint Economic Committee (www.jec.senate.gov) each foreclosure can cost lenders as much as $50,000. Homeowners naturally don’t appreciate foreclosures either as they often end up causing borrowers to file for bankruptcy besides losing their home. The other players in the foreclosure game are the neighbors of the homeowners that lose their home. The empty homes t

Loan Modification Alternative: Is Renting Your Home a Good Option
Loan Modifications do not seem to be the solution Government hoped it to be. It is having some success, over 650,000 trial loan modifications, but the floodgates of foreclosure risk homes are not even close to being closed. Of the 650,000 trial loans only 1,711 borrowers got a permanent loan modification. Many experts predict that few of the trial loan modification will work long term and that most troubled borrowers will ultimately foreclose on their homes. This bleak outlook has made Government and Federal Agencies look elsewhere to provide alternative options to loan modifications. One of these options, Deed for Lease, we mentioned last week and we are going to take a se

Loan Modification Alternatives: Is Renting Your Home A Viable Option
Loan Modifications do not seem to be the solution Government hoped it to be. It is having some success, over 650,000 trial loan modifications, but the floodgates of foreclosure risk homes are not even close to being closed. Of the 650,000 trial loans only 1,711 borrowers got a permanent loan modification. Many experts predict that few of the trial loan modification will work long term and that most troubled borrowers will ultimately foreclose on their homes. This bleak outlook has made Government and Federal Agencies look elsewhere to provide alternative options to loan modifications. One of these options, Deed for Lease, we mentioned last week and we are going to take a se

Details on the Home Buyer Tax Credit Extension
Home sales got a needed boost because of the Obama administration’s $8,000 tax credit for first-time buyers. With the national economy and housing market still fragile, the government recently decided to extend the tax credit through June 2010. The government also rolled out a new tax credit aimed at existing homeowners. Currently in effect, the $6,500 “move-up” tax credit would apply for eligible homeowners who purchase a new permanent residence in the coming months. Housing experts hope the two tax credits can help the struggling housing market rebound in 201

Is Strategic Foreclosing The Best Loan Modification For You
Last week I received a very interesting comment on one of my articles on loan modifications. The comment claimed that for most underwater borrowers (homeowners that owe more on their property than it is worth) a “strategic default” is smartest way to go. I had some months ago written an article claiming along similar lines that in many cases foreclosure is the only logical conclusion when homeowners had overspent on their homes and could no longer afford the overpriced luxury homes they had unwisely bought at the crest of the housing boom. Readers response ranged from claims that greedy buyers had it coming and deserved to lose homes they should never had bought t