Foreclosure News Release from Fannie Mae - A Little Bit of Good News

Posted on November 20, 2008
Filed Under Finances & the Economy |

The headline to the news article on the Fannie Mae website today reads: “Fannie Mae To Suspend Foreclosures Until January 2009 While Streamlined Modification Program is Implemented”.

Go here to read the entire article.

I’d be interested to hear your opinions and comments concerning the Streamlined Modification Program.  One of my questions is… if a borrower hasn’t made a mortgage payment in three months, what makes The Federal Home Loan Agency think the borrower will be able to make the lowered payment over the long haul?  Another question is… if the Loan to Value ratio has to be over 90% to qualify for the program, does that not mean that these are relatively recent loans?  And if so, (and I don’t mean to be rude) did the borrower not realize when they took out the loan that they might have trouble affording the house payment?  I just feel like there’s a disconnect here somewhere.  What do you think?

Comments

7 Responses to “Foreclosure News Release from Fannie Mae - A Little Bit of Good News”

  1. Tony Orlando on November 20th, 2008 7:00 pm

    Hello.

    I would like to put a link to your site on my blog roll if you want to do the same for mine. It would be a good way to build up both of our readerships.

    thank you.

  2. Ron Nevers on November 21st, 2008 9:22 pm

    Who would have thought that things in the economy would deteriorate so quickly. I hope that the poor folks facing foreclosure get some relief.

  3. Carroll on November 21st, 2008 9:31 pm

    Any good news is well received these days.

  4. Jody Heckenlively on November 22nd, 2008 12:57 am

    These sure are crazy times. We are waking up as a nation to the consequences of decisions we have made. Congratulations for being on the cutting edge of solutions!

  5. Bill Beavers on November 22nd, 2008 3:57 am

    You are so good. You must have a ghost blogger working for you while you’re out signing people up. Fantastic looking blog. Just one suggestion, how about some good news posts. Seriously, enjoy all your posts and look forward to your next internet adventure.

  6. Wayne Armstrong on November 22nd, 2008 7:44 am

    It is a great opportunity because it means people will have a chance to keep their homes if new loan structures can be arranged or they can relieve their debt burden so they can make their payments.

  7. Mrs. Money Merge on November 22nd, 2008 10:24 am

    My “ghost blogger” and I thank you for all of your kind comments!

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