Items Tagged with 'underwater borrowers'


  • Who is eligible for principal reduction? New report sheds light on groundbreaking program

    Just how many borrowers are eligible? Where are they located?
    When the Federal Housing Finance Agency announced earlier this year that it was going forward with a groundbreaking plan to offer principal reduction to a select number of borrowers, the details on who exactly would be eligible were somewhat scarce, outside of the stipulations for the program provided by the FHFA. A new report from the FHFA provides more detail on how many borrowers are eligible and where they are located.
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  • Here are the top 5 reasons some homeowners are still underwater [Infographic]

    RealtyTrac analysis reveals commonalities among underwater homeowners
    As the housing market improved and prices rose over the last few years, the number of borrowers that owe more on their home than it's worth fell dramatically, as RealtyTrac notes that 12% of homes with a mortgage are still underwater. But with nationwide home prices rising 47% since bottoming out in February 2012, why are there still so many underwater borrowers? Here are the top five reasons.
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  • Fannie Mae announces plans to securitize re-performing loans

    Mortgage bonds built on previously delinquent loans coming later this year
    Less than two weeks after the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will be reducing the principal on as many as 33,000 delinquent or underwater borrowers, Fannie Mae announced it now plans to begin securitizing loans that were once delinquent.
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  • FHFA makes it official: Principal reduction is coming

    Plan is 'final crisis-era' modification program
    A day that many in the housing industry thought would never come is finally and actually here, as the FHFA is making it official – widespread principal reduction is coming. In what it is calling a "final crisis-era modification program," the FHFA announced Thursday that it will be launching a principal reduction program for some borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac.
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  • RealtyTrac: Number of seriously underwater foreclosures falls to new low

    Overall total of seriously underwater properties fell 500K in third quarter
    The number of properties classified as “seriously underwater,” where the homeowner owes at least 25% more than the estimated value of the home, fell significantly during the third quarter thanks to a surge in home sales volume and prices, according to RealtyTrac’s Q3 2015 Underwater and Home Equity Report.
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  • Ocwen accused of stalling short sales

    NYDFS and CFPB investigate
    Ocwen just can't get out from under the spotlight of housing regulators. This time the servicer is being accused over whether it improperly stalled short sales by borrowers who owe more than their homes are worth.
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