The counseling that the money provides will help homeowners find housing, make more informed housing choices, or remain in their current homes if they are facing foreclosure.
Read More »Servicers Remain Aggressive with Outreach Efforts
With Treasury recently announcing the allocation of the final $2 billion in Hardest Hit Fund money and HAMP set to expire at the end of the year, servicers are ramping up their efforts to reach at-risk borrowers.
Read More »Treasury to Provide More TARP Funds for Hardest Hit Communities
The latest allocation to the Hardest Hit Fund from the government's Troubled Asset Relief Program, which totals $2 billion, is the fifth round of HHF funding aimed at helping struggling homeowners and stabilizing neighborhoods.
Read More »How Effective are Fannie Mae and Freddie Mac at Preventing Foreclosures?
It may be tougher to qualify for a mortgage loan to buy a home now than it was 10 years ago. But at least Fannie Mae and Freddie Mac are helping borrowers who already have homes to stay in them.
Read More »Fannie Mae Change Aimed at Helping More Struggling Borrowers Avoid Foreclosure
The GSEs have made helping families avoid foreclosure one of their top priorities since the start of the housing crisis, and Fannie Mae just announced an update to support a policy change to assist in that initiative.
Read More »Two New York Senators Allocate $120K to Foreclosure Prevention
As the state of New York heads into the Thanksgiving Holiday, two local Senators are raising awareness of the ongoing foreclosure crisis in parts of the state.
Read More »Borrower Outreach Events Proving Successful at Preventing Foreclosures
Borrower outreach events include HUD-approved housing counselors and mortgage servicers in order to give distressed borrowers a face-to-face meeting to work out a solution such as a permanent loan modification that will allow borrowers to remain in their homes. If a home retention solution cannot be worked out, often a non-foreclosure home forfeiture solution is offered such as a short sale or deed-in-lieu of foreclosure.
Read More »Fannie Mae, Freddie Mac Bring Foreclosure Prevention Total to 3.56 Million
With July's total of nearly 20,000 foreclosure prevention actions, the Enterprises have now completed 3.56 million such actions since the start of the conservatorship in September 2008, according to FHFA.
Read More »New York AG Announces Further Funding for Foreclosure Prevention
The latest round of funding will go to support the Homeowner Protection Program (HOPP), which is a statewide network of nearly 90 housing counseling and legal services agencies that provide free, high quality assistance to help struggling homeowners avoid foreclosure and stay in their homes.
Read More »Fannie Mae’s and Freddie Mac’s Increased Loss Mitigation Efforts Pay Dividends
REO inventory for Fannie Mae and Freddie Mae dropped by 14 percent during Q2, down to 86,515 for the two GSEs combined, as property dispositions continued to outpace property acquisitions. It was the first time the REO inventory for the GSEs has been below 100,000 since 2009.
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