The Obama Mortgage Effect

Whether you like or dislike Barack Obama there has been pre-emptive domino effect with wall street banks and government agencies that has the markets running in circles. Everyone knows that the subprime debacle, homeownership, foreclosures and devalued real estate markets have been in the headlines and a primary reason that Democrats did so well in [...]

Word of the Day – Modify

It seems as if every news item surrounding the housing market entrenches the word modify. Therefore, what does modify mean. According to Dictionary.com Unabridged (v1.1) the word modify is defined as:

to change somewhat the form or qualities of; alter partially; amend: to modify a contract.
to reduce or lessen in degree or extent; moderate; soften; to [...]

Streamlined Modifications – Will it Help?

The Federal Housing Finance Agency (FHFA) announced today that a major program designed to simplify and streamline loan modifications for struggling homeowners to prevent foreclosures had been established. The collaboration between Fannie Mae (FNM), Freddie Mac (FRM), Federal Home Loan Banks, HOPE NOW (and it’s 27 service partners), Department of Treasury, Federal Housing Administration and [...]