Tag Archives: Loan Modifications

Foreclosures Decline 24 Percent June 2012 Vs. June 2011 CoreLogic Reports. HARP Lending 18 Percent of Residential Lending Mix Per Freddie Mac

CoreLogic, a premier provider of real estate and consumer related data, just released the latest info on U.S. housing markets from a default perspective. Another report from Freddie Mac adds to this, as well as an excellent summary by the Mortgage Bankers Association (MBA). Key Findings from CoreLogic, Freddie Mac and the MBA include: 60,000 …Read more

The Fuse is Burning and Time is of the Essence — The Pending Expiration of the Mortgage Forgiveness Debt Relief Act

The clock is ticking for individuals either facing foreclosure or that are underwater and desire to complete a short sale of their primary dwelling, in regards to any debt forgiveness.  What may not be a taxable event in 2012, might become imputed ordinary income in 2013 (assuming Congress does not extend some previous legislation).  If …Read more

HARP 2.0

Fannie, Freddie & MBA Forecast Changes Oct 2011 to Nov 2011 The President announced a change to the HARP program (essentially loan modifications to borrowers with loans that are currently held by Fannie Mae and Freddie Mac that are performing but underwater).  The real key to these modifications is that now the lender is no …Read more

Modified Home Affordable Refinance Program (HARP)

Potential Impacts of Modified Home Affordable Refinance Program (HARP) Announced by the President    Requires borrower to be current on their loan payments—no other requirements Makes no difference how far underwater their home is Will eliminate appraisals and extensive underwriting requirements for most borrowers FHA, Fannie Mae and Freddie Mac have agreed to eliminate some fees …Read more

Refinancing Loans

Yesterday I posted a link to an article about a presentation I gave to the Michigan Association of Realtors. Here is a link to a follow-up article on refinancing loans. Should we lower the interest rate for all homeowners current on their mortgage? – mlive.com