Fannie Mae announced that all of it's foreclosed homes that are being put on the market are only available to owner occupant buyers for the first 15 days that they are on the market, in what it is calling the 'First Look Initiative'. The idea ...
Category Archives: Fannie Mae
Debt Consolidation Refinance Getting (Even More) Difficult
A lot of people used to use their homes as ATM machines, cashing out every so often to consolidate the debt that they used to finance their lifestyles - which demanded more money than their incomes provided. Those days, thankfully, are over. Yet, I am meeting ...
Considering A Debt Consolidation Loan
With the economic squeeze the country is in, a lot of us are feeling the effects, and a lot of people around Atlanta - okay, around the country - have had to rely on their credit cards for everyday expenses. And, we've all done it. "Well, just this time, because things are tight, and I ...
The Fallacy of a 4% 30 Year Fixed Rate
I have heard the story that the Obama administration wants to bring 30 year fixed mortgage rates down to 4%. But I have not heard how they will do it. The only way they really have of lowering rates is by buying Mortgage ...
The Fed May Have Another Trick Up It’s Sleeve
The Meeting of the Federal Reserver Board will adjourn at 2:15pm today, and as is customary, Fed officials will speak. Normally, we have waited to see if the Fed will lower (or raise) interest rates, and both stock and bond investors respond accordingly. They cannot ...
Is it Time to Refinance?
The stories are all over the news, including this one from the Associated Press, that mortgage rates are low. How low? Well, depending on where you look, anywhere from 37 year lows to All-time lows. I can tell you that from a raw rate standpoint, ...
Get Docs in for a Refinance – Lock Today
The Fed has announced that is will be buying Mortgage Backed Securities (MBS) in an effor to lower mortgage interest rates. Even though they have made two purchases of MBS, and rates are lower, they have been quite volatile ...
How Would You Like That 4.5%, 30 Year Fixed Rate?
With or without points? If Sec. Paulson has his way, it may be the prevailing rate soon. The Wall Street Journal reported today that a plan is being mulled over to use the Federal Government to lower Fannie and Freddie Mac rates, as well as government ...
No More Foreclosures for the Holidays
Freddie Mac and Fannie Mae announced today that they would stop foreclosures altogether from November 26 - January 9. That is the day before Thanksgiving through the end of the week of Epiphany. So, a little present to be thankful for. The reason that Fannie ...
The TARP that Didn’t Cover
The TARP (Troubled Asset Relief Program) was part of the bailout bill. You may remember the one, that paultry $700B taxpayer dollars set aside to purchase troubled bank assets, or loan ...