"What Treasury did is put in a protocol. so they have a preapproved short sale," said Ron Bergum, the chief executive of Prospect Mortgage LLC in Sherman Oaks, Calif. "What this does is it makes the transaction mainstream, because there’s a protocol in place that the government has outlined."
Right now the margin is pretty low, the Fed funds rate is currently higher than the rate of a 10-year Treasury. is coming?.
Short sale volume at Freddie Mac grew more than 1,000 percent from 2007 to 2009, and the GSE says this upward trend in volume leaves the market ripe for incidences of short payoff fraud.
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The government is launching a new effort to encourage "short sales" of houses in danger of foreclosure. The Treasury Department will offer more than $3,000 in incentives to lenders and homeowners.
The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.
Average hourly earnings rose 1.9 percent in 2010. Personal income rose less than 4 percent. (The census bureau changed the methodology for calculating retail sales in 1992 and says the data aren’t.
The Treasury plan, which must be implemented by lenders no later than April, is meant to help sellers like Dawn Sclafani, who has been waiting since October for her lender to approve a short sale.
With the expiration of two major federal incentives on the horizon. up from only 5.1 GW completed in 2010. The reason for the increased activity is two-fold. Much of the late-stage activity has.
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Whether you have a house in mind that’s listed as a short sale or you’re hoping to benefit from a good deal down the road, here are seven things you need to know about buying a home in a short.
LPS Data Shows GSE Foreclosure Starts Are Accelerating. Fannie Mae and Freddie Mac are beginning to initiate foreclosures at a faster pace.. According to a new study from Lender Processing Services (LPS), GSE foreclosure starts have been accelerating and are currently at all-time highs. From May to June, foreclosures initiated by Fannie and Freddie jumped 21 percent.