HAMP is expiring but do not despair

Step Aside HAMP, There’s a New Kid in Town With the Home Affordable Modification Program (HAMP) set to expire in less than three weeks, Fannie Mae has designed a foreclosure prevention program, Flex Modification, to help America’s families by offering reductions to their monthly mortgage payments. According to the announcement Wednesday, from the GSE, this … Continue reading HAMP is expiring but do not despair

FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

From The MReport 5/4/15 The Federal Housing Administration (FHA) has issued a memo announcing the rescinding of a mortgagee letter written in January that would have allowed reverse mortgage lenders the option of delaying foreclosure proceedings on surviving non-borrowing spouses. Mortgagee Letter 2015-12, issued by HUD on Thursday, announced the immediate rescinding of Mortgagee Letter 2015-03, originally … Continue reading FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

The states with the highest foreclosure rates

*spoiler alert California is not on the list* From MSN Money September 2014 The States With the Highest Foreclosure Rates U.S. foreclosure activity declined in September, reaching the lowest number of properties with a foreclosure filing since July 2006: 106,866. That’s down 9% from August and down 19% from last September, according to the monthly … Continue reading The states with the highest foreclosure rates