Archive for Archive for June, 2010

Fannie Mae Intensifies Penalties for Strategic Defaulters

Fannie Mae is boosting penalties for strategic defaulters by prohibiting them from getting a mortgage, backed by the company, for seven years from the foreclosure date. Fannie Mae says it will also take legal action to recoup debt and will be instructing services to monitor delinquent loans and recommend cases that need deficiency judgments. In […]

Posted by: najirashid on Thursday, June 24th, 2010

Senate Approves Extension of Tax Credit Closing Deadline

The U.S. Senate has passed an amendment that would extend the closing deadline of the homebuyer tax credit by three months. Right now, qualifying homebuyers who were under contract by April 3oth have until June 3oth to close the deal. But because of the large volume of applications for lenders to process, concerns have begun […]

Posted by: najirashid on Friday, June 18th, 2010