Independent loan Information

Mortgage finance companies Fannie Mae and Freddie Mac are suspending http://usforeclosureinformation.com/s for about 16,000 households during the holiday season.

The two companies said Thursday that they will halt http://usforeclosureinformation.com/ sales between Nov. 26 and Jan. 9, while they evaluate whether borrowers qualify for a new loan modification program announced last week.

Fannie Mae said about 10,000 households would be affected, while Freddie Mac said the changes would affect about 6,000 borrowers who are facing http://usforeclosureinformation.com/. The change does not apply to vacant homes.

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The November 2008 edition covers selling houses in a down market — a hot topic because of the current state of the economy and the overall dip in the housing market throughout the United States.

In short, it’s not an easy endeavor right now.

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We also talk about the buyer side of the equation, leveraging the market now to capitalize on great deals that will be worth double the purchase prices in just a few years.

To check out the November 2008 installment and previous monthly installments click here.

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Federally regulated thrifts — excluding the failed Washington Mutual and IndyMac — originated billion in one- to four-family loans in the third quarter, a 28% decline from the same period last year, according to new figures released by the Office of Thrift Supervision.

In an attempt to spur usage of its Hope for Homeowners refinancing program, the Department of Housing and Urban Development said Wednesday it will buy out second-lien holders - likely for pennies on the dollar.

Housing secretary Steve Preston wants Congress to allow his agency to assess civil money penalties on lenders that do not follow new disclosure requirements on the revamped “Good Faith Estimate” sheet.

Reps. Barney Frank, D-Mass., and Gary Miller, R-Calif., are urging federal housing officials to reverse a decision that would lower Fannie Mae, Freddie Mac and FHA loan limits in 399 counties starting Jan. 1.

The Financial Services Roundtable is urging the Treasury Department to “explicitly” guarantee Fannie Mae and Freddie Mac debt and reverse falling demand for the mortgage-backed securities issued by the two enterprises.

The 12 Federal Home Loan Banks saw combined earnings of 6 million in the third quarter, down 30% from the second quarter, after taking 6 million in charge-offs on private-label mortgage backed securities.

Sen. Dick Durbin, D-Ill., went after the Mortgage Bankers Association for opposing his efforts to allow bankruptcy judges to modify loans while the servicers MBA represents continue to do little to prevent Foreclosures.