Government money to the rescue! Freddie Mac has started their move into aiding troubled homeowners. Payments for flier-ing the market, and even more money to knock on doors and meet the homeowner in person! I realize that payments have to be given to servicers when the target market for this $3 Billion dollar assistance is so readily out there. With the nation taking blows in our economy, our best offense might be defense.

(more…)

The nation is still shaken up from its financial crisis, but this week, it seemed like the Senate is prepared to pass a new housing bill to mainly prevent foreclosures. This measure is to strengthen Fannie and Freddie Mac to allow these two companies to come back up, along with giving homeowners a good mortgage to carry. If this new bill passes, expect to see these implemented changes.

• FHA Role Expansion
• Create a New Regulator for Fannie and Freddie
• Raise Conforming Loans
• Update FHA Rules
• Provide Housing-Related Tax Credits
• Help States Buy Foreclosed Properties

Whatever the case, the Senate knows that this bill is long overdue; no longer can the government hope to see this crisis taking care of itself. Changes need to be made, and all that’s needed now is for the House to accept this bill also.