GSEs’ Long Run of Declining Delinquencies Comes to an End

For the first time in over a year neither Fannie Mae nor Freddie Mac are showing any downward movement in their seriously delinquent mortgage rates. Fannie’s percentage of single-family loans at least three payments past due remained unchanged between the months of June and July at 4.08 percent, according to the latest monthly summary report …

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Counseling Improves Mortgage Payment Success

If you or someone you know is having trouble paying each month’s mortgage payment, you may want to consider foreclosure prevention counseling. Data released by NeighborWorks American finds that a homeowner working with a housing counselor is nearly two times more likely to avoid foreclosure than those who don’t.  Counseled borrowers also tend to lower …

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What Happened to the Government’s Short Sales Program?

The Wall Street Journal posted the following article by WSJ’s reporter Nick Timiraos concerning the Home Affordable Foreclosure Alternatives short sale program: In April, the Obama administration formally rolled out a new program, called Home Affordable Foreclosure Alternatives, that was designed to spur more short sales, where banks allow homeowners to sell their homes for …

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Avoid foreclosure-prevention scams

CNNMoney.com gave three tips on avoiding foreclosure-prevention scams in an article the other day: With mortgage delinquencies at an all-time high, there are lots of desperate homeowners seeking to avoid foreclosure — and tons of scam artists trying to take advantage of that. The fraudsters promise the moon but rarely deliver any help. In Times …

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