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Do I Qualify for a Loan Modification?

by Smithee on March 4, 2009. Real Estate and Home 7 comments.

(Or… What on Earth is an Affidavit of Financial Hardship?) Today the U.S. Treasury announced the details of their “Making Home Affordable” Loan Modifications. This link to the financialstability.gov Web page about the plan should help you answer whether you are eligible to receive help with your “underwater” mortgage. Here’s a good summary from a PDF linked ... Continue reading this article…

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Fannie Mae and Freddie Mac Seized by the Government: Likely Results

by Flexo on September 9, 2008. Economy 4 comments.

Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation) are companies that buy mortgages from lenders. Those lenders, by selling loans to the companies, have more cash on hand to lend to other individuals. Fannie Mae and Freddie Mac then “repackage” the mortgages and sell them as securities ... Continue reading this article…

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