How REO Sales Impact Home Prices

~we don't have a REO market to speak of in CA, but this is interesting still~ How REO Sales Impact Home Prices With markets across the country suffering from pronounced inventory shortages, it would seem that anything that puts more homes on the market would be a good thing. A new report by Pro Teck … Continue reading How REO Sales Impact Home Prices

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