According to the FHFA's Q4 2011 Foreclosure Prevention and Refinance Report, Fannie Mae and Freddie Mac have completed more than 2.1 million foreclosure prevention actions to help keep borrowers in their homes. This includes 1.1 million permanent loan modifications. Additionally, fewer than 20% of these loans that were modified in the four quarts ended March 31, 2011 had missed two or more payments which is an improvement from previous years.
The FHFA has also released an interactive Fannie Mae and Freddie Mac State Borrower Assistance Map that allows you to see how many loans are owned or guaranteed by the GSEs, and how many of which are delinquent, in foreclosure or refinanced per state. There are more statistics involved as well in this report. Click here to view more.
Tuesday, March 20, 2012
FHFA's Foreclosure Prevention and Refinance Report
2 comments:
As mortgage professionals we must maintain our belief that we provide value. As a client’s advocate we are uniquely positioned to explain to them the context of all this news and noise. At the same time we are personally in the middle of it with respect to our livelihood. I feel we are living through one of the most interesting story lines of the current economic recovery. Strong companies and successful hard working brokers and agents will succeed. Now is not the time to dwell. Now is the time to lead.
Home loans
Think about other types of lending institutions when comparison shopping for mortgage companies. Credit unions and thrift institutions sometimes provide lower interest rates and are more open to refinancing mortgages for people with bad credit.more info on ex-patriot Australian mortgage
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