Comments on: Breaking News! – US Govt Takes Over Fannie Mae and Freddie Mac http://shortsalefundamentals.com/blog/2008/09/07/breaking-news-us-govt-takes-over-fannie-mae-and-freddie-mac/ Short Sale Fundamentals Fri, 10 Sep 2010 19:25:38 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: vanguard mutual funds http://shortsalefundamentals.com/blog/2008/09/07/breaking-news-us-govt-takes-over-fannie-mae-and-freddie-mac/comment-page-1/#comment-462 vanguard mutual funds Wed, 16 Sep 2009 08:30:25 +0000 http://www.ShortSaleFundamentals.com/blog/?p=198#comment-462 Short sale will be high in coming time. People need to work on loan modifications so as to avoid foreclosure other wise short sale is a good option to go for. Short sale will be high in coming time. People need to work on loan modifications so as to avoid foreclosure other wise short sale is a good option to go for.

]]> By: Loss Mitigation http://shortsalefundamentals.com/blog/2008/09/07/breaking-news-us-govt-takes-over-fannie-mae-and-freddie-mac/comment-page-1/#comment-461 Loss Mitigation Thu, 29 Jan 2009 12:41:54 +0000 http://www.ShortSaleFundamentals.com/blog/?p=198#comment-461 This will really effect the real estate market. The homeowners may get some good news and might also get a chance to save their foreclosure. This will really effect the real estate market. The homeowners may get some good news and might also get a chance to save their foreclosure.

]]> By: Mike Kleinstub http://shortsalefundamentals.com/blog/2008/09/07/breaking-news-us-govt-takes-over-fannie-mae-and-freddie-mac/comment-page-1/#comment-460 Mike Kleinstub Mon, 08 Sep 2008 22:22:27 +0000 http://www.ShortSaleFundamentals.com/blog/?p=198#comment-460 I think this is going to give Loss Mitigation companies a larger scope to help homeowners..Most Loss Mit workouts end in shortsales as we already know and I think this will widen shortsales in the future. I hope it helps homeowners remain in their homes...but the truth is that this is all just a band-aid... Mike I think this is going to give Loss Mitigation companies a larger scope to help homeowners..Most Loss Mit workouts end in shortsales as we already know and I think this will widen shortsales in the future.

I hope it helps homeowners remain in their homes…but the truth is that this is all just a band-aid…

Mike

]]> By: Brian Kurtz http://shortsalefundamentals.com/blog/2008/09/07/breaking-news-us-govt-takes-over-fannie-mae-and-freddie-mac/comment-page-1/#comment-459 Brian Kurtz Mon, 08 Sep 2008 16:07:22 +0000 http://www.ShortSaleFundamentals.com/blog/?p=198#comment-459 I don't really see this making things any worse or better for short sale negotiation professionals. Shoring up the GSA's is all fine and dandy, but how is it going to effect any change? Is the government going to tell them to restructure their ridiculous 90% to 92% of the BPO net figure requirement? A Big Brother takeover isn't going change the short sale processes for these two anytime soon and without changes on their policies this is just another news story. The other things that these banks need to do is remove across the board the whole "deed restriction" thing that prevents the home from being resold in the first 90 days after a sale. It's very similar to the FHA guideline except that it only applies to homes owned by Fannie/Freddie that are being sold REO while the FHA thing applies to ALL homes because it's a Buyer stip. I am NOT excited about this news, because I just don't see how it benefits those that are faced with the terrible choice of : Foreclosure or Short Sale? And if Short Sale, what are the guidelines to get it done? I'm also worried that Fannie/Freddie may start adopting some of the FHA stuff. Like the 90-Day seasoning thing for all buyers! That would kill just about every Retail Short Sale Double-Close Quick-turn. I don’t really see this making things any worse or better for short sale negotiation professionals.

Shoring up the GSA’s is all fine and dandy, but how is it going to effect any change? Is the government going to tell them to restructure their ridiculous 90% to 92% of the BPO net figure requirement?

A Big Brother takeover isn’t going change the short sale processes for these two anytime soon and without changes on their policies this is just another news story.

The other things that these banks need to do is remove across the board the whole “deed restriction” thing that prevents the home from being resold in the first 90 days after a sale. It’s very similar to the FHA guideline except that it only applies to homes owned by Fannie/Freddie that are being sold REO while the FHA thing applies to ALL homes because it’s a Buyer stip.

I am NOT excited about this news, because I just don’t see how it benefits those that are faced with the terrible choice of : Foreclosure or Short Sale? And if Short Sale, what are the guidelines to get it done?

I’m also worried that Fannie/Freddie may start adopting some of the FHA stuff. Like the 90-Day seasoning thing for all buyers! That would kill just about every Retail Short Sale Double-Close Quick-turn.

]]> By: cboatright http://shortsalefundamentals.com/blog/2008/09/07/breaking-news-us-govt-takes-over-fannie-mae-and-freddie-mac/comment-page-1/#comment-458 cboatright Mon, 08 Sep 2008 01:48:11 +0000 http://www.ShortSaleFundamentals.com/blog/?p=198#comment-458 What are your thoughts about how this will affect short sales? I left my opinion on the video shown above. What are your thoughts about how this will affect short sales? I left my opinion on the video shown above.

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