Underwater Homes and Upside-Down Mortgages ppt

270 778 0
Underwater Homes and Upside-Down Mortgages ppt

Đang tải... (xem toàn văn)

Tài liệu hạn chế xem trước, để xem đầy đủ mời bạn chọn Tải xuống

Thông tin tài liệu

UNDERWATER US $24.99 Shelve in: Business / Personal Finance Companion eBook www.apress.com Lauer UNDERWATER Options When Your Mortgage Is Upside Down Are you one of the 15 million homeowners with an “underwater” or “upside down” mortgage? You are if the loan on your house is worth more than the house itself, a condition afflicting nearly one in three of all mortgage holders. Underwater: Options When Your Mortgage Is Upside Down shows you what to do if your home is worth less than your outstanding mortgage debt. Veteran business journalist Chris Lauer interviewed underwater homeowners, real estate agents, mortgage brokers, real estate attorneys, and real estate economists to find solutions for your predicament. Underwater covers a full range of options for your consideration, including: • Wait out the storm while home prices begin to increase again • Refinance your loan or attempt a loan modification • Take advantage of one of the many government programs available to you— like HARP, HAFA, or HAMP—to refinance or modify your loan • Arrange with your bank to do a “short sale,” which means you sell your house for what you can and the bank takes less than the value of the mortgage • Do a “strategic” default that could enable you stay in your home while you and the bank wrangle over the terms of your exit • Offer the lender a “deed in lieu of foreclosure,” a better option than the most drastic choice: full-out foreclosure Each of these options has pros and cons, including hits to your credit and your pride. But as you’ll see, underwater homeowners have found ways to reduce their monthly payments, save their houses from foreclosure, or get out from under houses they no longer want without dam- aging their credit beyond repair. Filled with dozens of useful tips, Underwater offers smart advice and specific options from lawyers, brokers, agents, homeowners, economists, and experts whose knowledge of the real estate industry comes from its front lines. While charting what happened in the real estate industry from the burst of the bubble through its slow recovery, Underwater details the latest government and lender programs for loan modifications, refinancing, short sales, deeds in lieu of foreclosure, and foreclosure. Those faced with tough choices will find invaluable guidance here to help them make well- informed decisions while managing the emotional and financial fallout of owning an under- water home. BOOKS FOR PROFESSIONALS BY PROFESSIONALS ® Options When Your Mortgage Is Upside Down For your convenience Apress has placed some of the front matter material after the index. Please use the Bookmarks and Contents at a Glance links to access them. Contents About the Author vii Acknowledgments ix Preface xi Underwater Homes and Upside-Down Mortgages xv The Real Estate Market and the Underwater Mortgage 1 The Real Estate Crash 3 How Bad Is the Underwater Problem? 9 Expert Advice on Your Underwater Mortgage 15 Advice from an Underwater Homeowner 17 Advice from a Real Estate Attorney 25 Advice from a Real Estate Agent 47 Advice from a Mortgage Broker 63 Advice from a Real Estate Agent 75 Chapter 8: Advice from a Real Estate Agent 91 Chapter 9: Advice from a Mortgage Broker 111 Chapter 10: Advice from a Real Estate Expert 127 Part III The Real Estate Market: An Overview from the Experts 143 Chapter 11: Advice from a Real Estate Economist 145 Chapter 12: Advice from an Economist 173 Chapter 13: Advice from CoreLogic Chief Economist Mark Fleming 189 Part IV Housing: Fannie, Freddie, Legal Issues, and Government Programs 203 Chapter 14: What You Should Know About Fannie Mae and Freddie Mac 205 Chapter 15: Lenders Settle with Homeowners for $25 Billion for Abuses 213 Chapter 16: Twelve Valuable Government Programs 225 Part V Appendices 239 Appendix A: Glossary of Terms 241 Appendix B: Additional Resources 251 Index 257 Preface This is a book of knowledge and hope for people who owe more for their . It’s a tough spot to be in, but there is a . Things are starting to look up even during this sluggish . Every homeowner watches for signs of good news as the . . That’s . There is no need to go it alone. hose who suffer from negative equity need help from people who have . This book is filled with the advice of experts who know about underwater . The stories, tips, and advice in this book come from those who have seen enough real estate transactions to know the score. These professionals were there on the frontlines when the real estate bubble burst 6 years ago, and they are ready to share their experience and knowledge vital to helping homeowners with underwater mortgages who are ready for relief. Hope on the Way Hope is on the way. The advice of the real estate professionals collected here offer you a better understanding of the real estate market and your place in it. This book distills their experiences, numbers, and expertise into a guidebook you can use to help you navigate the topsy-turvy world of owning a home in the United States today. To help you get a handle on the underlying history that has shaped the current housing landscape, Part I is all about the real estate market and the underwater mortgage. Part 1 starts with Chapter 1, which examines the cataclysmic bubble burst that left the real estate market in shambles. This is where the Preface xii origins of the debacle are analyzed to help you get a sharper picture of the terrain you must travel to get out from under water. Chapter 2 looks at how far the reverberations of the real estate market collapse reached into our current economy. It also puts some numbers on the ripples that continue to roll through today and into the future. Part II offers expert advice from a number of real estate industry professionals and homeowners who understand firsthand what is going on in the market today. They know because they live and work there every day. That advice begins in Chapter 3 at the front door of a homeowner who spent some of his home’s equity to build his business, but the real estate market crash left him without enough equity to qualify to refinance at one of the great rates now . And he loves his underwater home too much to leave. His story can . I R. Kramsky, Esq., offers a legal . Kramsky’s expertise in the industry was recently recognized when The Silk . . Next, in Chapter 5, real estate agent Nancy Ringer describes the current conditions in which underwater homeowners must work to turn their homes right side up. Her advice provides a ground view of how real clients are faring in today’s market. In Chapter 6, mortgage broker John Paunan offers homeowners a look at the ways the real estate market has changed since it imploded, and the role Fannie Mae and Freddie Mac play in the lives of millions of underwater homeowners who are seeking relief. His perspective on the mortgage market is invaluable for those looking for answers. In Chapter 7, another real estate agent offers additional experience from the real estate industry’s front lines. This time, real estate agent Dave Watlington offers practical advice on selling an underwater home and the steps an underwater homeowner should take while battling default and foreclosure. Next, in Chapter 8, real estate agent Michael Milligan rounds out previous lessons with numbers that can help a homeowner understand when negative equity may be tolerable, and how much demands faster action. His anecdotes shed light into reasons why divorced couples stay under one roof and why lenders do not want to foreclose on you. xiii Preface Utah mortgage broker Brett Stimpson adds another side to the refinancing equation in Chapter 9. Stimpson reviews the top options for underwater homeowners while explaining why refinancing is still your best option if you qualify. In Chapter 10, nationally recognized real estate expert Brendon DeSimone describes how investing in real estate requires a long-term perspective, why realism must rule the day, and how underwater homeowners can get a grip on the emotional impact of their circumstances. Chapter 11 is the start of Part III, which provides an overview of the real estate market and where it is headed. This chapter takes the options for underwater homeowners to the macro level by offering them the tips of a real . As senior vice president for the consulting Real Estate Economics, Mulville looks at the big picture every day . Underwater homeowners can use his advice to . nother advocate of long-term thinking is California State University professor r. Rob Wassmer, who teaches underwater homeowners how economists . In Chapter 12, Wassmer points out the importance of . He also teaches underwater an underwater home, why they should ignore sunk costs, and how ethics play a role. Chapter 13 features the latest underwater home statistics from CoreLogic, a top provider of data on consumer, financial, and property information and analysis. CoreLogic’s chief economist, Mark Fleming, explains what these numbers mean to homeowners and what the numbers tell him about the future. Part IV focuses on the law of the land and how you can make the most of the many federal programs that are available to underwater homeowners right now. Advice here may save you thousands of dollars in deficiencies, or may help you keep your credit rating intact after your exit from an underwater home. Chapter 14 explains what every underwater homeowner should know about the mortgage giants Fannie Mae and Freddie Mac, and how these organizations may be the link between you and a better monthly payment. Next, Chapter 15 investigates the misconduct and lender abuses that took place in the mortgage industry, and describes how the inspectors general of Preface xiv 49 states reached a $25 billion settlement with the biggest banks in the country, and where the money is going. Chapter 16 then points you in the right direction when you are looking into the offerings available from the U.S. government. Any one of the 12 programs featured in this section could provide you with the break you need after the long 6 years since your home turned upside down. Last, in Part V, you will find appendices to help you work with the people who understand underwater homes. You will need a decoder for their language, so Appendix A presents a glossary of terms for sorting out the acronyms and jargon so you can understand what everyone in the real estate business is talking about. You will also need real people and programs to help you improve . Your link to them is Appendix B, which lists a Web addresses. These names and . Underwater Homes and Upside-Down Mortgages . Two years later, . This catastrophe left her . 1 upside down. Whatever it is called, the amount she owes on her . In addition to the lack of value in her home, Mary is also running into problems with it. Although the house is under full warranty, she is facing many expensive mechanical defects in the house, such as bad wires, an outdated roof, and a questionable furnace. Next she discovers mold. The developer who built the home fixed the mold problem once, but he has since gone out of business and filed for bankruptcy. The repairs required to make her home livable add up to make it an overwhelming burden. In addition, a recent illness forced Mary to retire from her job. This unanticipated decrease in income makes it hard for her to keep with her monthly mortgage payments, and all those needed repairs remain on the back burner. With so many difficulties facing her, Mary chooses to sell her home at a loss and move into a rental unit. On the bright side, she is glad she does not have to face all the repair bills. On the other hand, she never imagined herself renting, after being a homeowner for nearly 30 years. Mary is just one of 1 www.aarp.org/money/credit-loans-debt/info-07-2012/nightmare-on-main-street-AARP-ppi- cons-prot.comments.html INTRODUCTION xvi Introduction millions of underwater homeowners in the United States who are faced with a variety of hard decisions to make regarding their home. Robert in New Jersey In 2002, Robert bought his house for $200,000 in a small New Jersey suburb. For many years he has enjoyed his home. He was happy to see its value appreciate every year he lived in it. In 2006, he decided to take advantage of the equity he had accrued during the past 5 years to replace the roof. When he met with a lender to apply for a home equity loan, the lender informed him that he first needed a home appraisal. So, Robert hired an appraiser. After Robert’s home, the appraiser turned to him and asked, “How Home Value’?” Robert . T . The house next Robert’s home was still unsold after being on the market for a year. T . Robert’s T Robert sought help from a company that offered to help him refinance his home so his mortgage payments and interest rate would be much lower. He paid the company $3,000 for its services. Robert called the company every week to find out the status of his loan. An agent at the company claimed to be waiting for word from the bank about approval of the loan. Several months passed and the company was no longer answering his phone calls. Robert left message after message, hoping to hear something about his loan application. Six months after paying the company the $3,000, Robert discovered that the company’s phone number was no longer in service and the company had folded. Today, Robert owes $230,000 on his home, which is probably worth about $180,000. Robert and his family live in a home that is underwater. He continues to make his mortgage payments, and loves his house and neighborhood, but he wonders if it is worth the money and effort to continue to stay in his home. xvii Introduction Lisa and Andy in Delaware For many years, Lisa and Andy wanted to buy a new house in North Wilmington, Delaware. They lived nearby in a small two-bedroom home, but they wanted a larger house in a nicer neighborhood where they could raise their 5-year-old son. In 2006, they found the perfect house in a lovely neighborhood that was exactly what they wanted. The three-bedroom home was perfect for their family. Their son would have his own bedroom and Lisa could make the third bedroom into a home office for her freelance writing business. Although the sellers were asking $335,000 for their 75-year-old refurbished house, making it the most expensive house in the neighborhood, home prices had been . Andy, the investment seemed well worth it and they bought their . When the house needed a new heating and air-conditioning Delaware’s humid summers and . ot long thereafter, the bottom fell out of the real estate market. House . Homes sat on the market . Their neighbor’s house finally sold in 2010 for $285,000. Lisa and Andy know their home is more desirable, with better upgrades and extensive landscaping, but it is hard to say whether they will ever be able to sell their house for the price they paid for it, let alone the $300,000 they still owe on it. To make matters worse, two houses on their street have recently gone to short sale, which is when the bank agrees to take less than the mortgage, settling the debt, to avoid foreclosure. When neighbors short sell their homes, home values around the neighborhood reflect those lower prices. Every month when Lisa and Andy pay their mortgage they feel the pressure of being underwater. Options for Underwater Homeowners Mary, Robert, and Lisa and Andy (not their real names) are far from being alone with their mortgage difficulties. In December 2011, approximately 22.8 [...]... economists, and other experts share their ideas and tips on how underwater homeowners can improve their lives And they offer smart perspectives on the past and future of real estate in the United States Perhaps the best place to start down the road to personal real estate recovery from the underwater mortgage crisis is to tap in to the expertise of someone who knows about underwater homes firsthand In the... book offers advice and tips from experienced experts to help those whose mortgages are underwater to discover their financial options and find some hope as they face one of the toughest decisions of their lives—stay put and bail out an underwater home or dump it and move on The Effects of the Mortgage Crisis on Older People 5 to population in the United States, the percentage of underwater loans decreases... Chapter 2 | How Bad Is the Underwater Problem? homeowners are now ‘under water’ in their mortgages, meaning that they owe more on their mortgages than their homes are worth.” To find out how bad the problem had become, two U.S Census Bureau surveys were performed in 2009 to collect data on mortgages, making it possible to provide an estimate of the prevalence of underwater mortgages over time The American... AHS and the SIPP included self-reported measures of home value and mortgage debt in calculations of home equity These calculations showed that an estimate of the percentage of underwater mortgages in 2009 in the AHS (11.6 percent) was lower than the Ibid Ibid 4 http://online.wsj.com/public/resources/documents/Landscape2012.pdf (Retrieved September 18, 2012) 2 3 11 12 Chapter 2 | How Bad Is the Underwater. .. (Retrieved October 30, 2012) 6 Ibid 7 Ibid 5 Underwater • About 4.2 million underwater homeowners have both first and second liens The average mortgage balance for this group of borrowers is $300,000 The average underwater amount is $84,000 • Most borrowers in negative equity continue to make their mortgage payments • Together, negative equity and near-negative equity mortgages accounted for 27 percent of... reported: 2 AHSs, the researchers Using two waves of data from the 2004 SIPP panel, they examined tenure transitions of individuals and households whose mortgages are under water They wrote: “We find across the board increases in underwater mortgages in 2009 and find owners who are underwater or have high housing burdens to be at greater risk of homeownership exit.”3 (According to the research organization... http://blogs.reuters.com/great-debate/2012/06/19/a-solution-for -underwater -mortgages- eminent-domain/ 5 Trawinski 2 Introduction have no equity; 600,000 loans of people age 50+ were in foreclosure, and another 625,000 loans were 90 or more days delinquent From 2007 to 2011, more than 1.5 million older Americans lost their homes as a result of the mortgage crisis.” The PPI performs public policy research, analysis, and development at AARP... of underwater homes You might find it at least slightly comforting to know that you are not alone in facing a personal housing crisis If you find such information cold comfort, skip ahead to the next chapter, which is the first of many to help you get out from under your upside-down mortgage According to the 2009 report from the U.S Census Bureau, “Drowning in Debt: Housing and Households with Underwater. .. underwater, 2 and the numbers are not getting better In July 2012, experts estimated that 11.4 million, or 23.7 percent, of all residential properties in the United States with a mortgage were underwater at the end of the first quarter of 2012.3 In addition, in June 2012, studies showed that 2.86 million mortgages were delinquent by 12 months or more.4 These numbers show that there is currently an underwater. .. of homes actually lost to foreclosure.”11 A Each Nearby The suffering extends fraction of its original value Options seem few for those bailing out an underwater home, but more options are available than most realize Real estate experts from around the country can help underwater homeowners find relief The expert opinions and professional guidance gathered in the following chapters provide underwater . Bookmarks and Contents at a Glance links to access them. Contents About the Author vii Acknowledgments ix Preface xi Underwater Homes and Upside-Down Mortgages. is Appendix B, which lists a Web addresses. These names and . Underwater Homes and Upside-Down Mortgages . Two years later, . This catastrophe left her

Ngày đăng: 07/03/2014, 06:20

Từ khóa liên quan

Mục lục

  • Contents

  • About the Author

  • Acknowledgments

  • Preface

    • Hope on the Way

  • Underwater Homes and Upside-Down Mortgages

    • Mary in California

    • Robert in New Jersey

    • Lisa and Andy in Delaware

    • Options for Underwater Homeowners

  • The Real Estate Market and the Underwater Mortgage

    • The Real Estate Crash

      • When Did the Bubble Burst?

      • Housing Market Crisis

      • Housing Valuation

      • Who Is to Blame for the Crash?

      • Greenspan Was Not Alone

      • Conclusion

    • How Bad Is the Underwater Problem?

      • Survey Results

      • 22 Percent of Borrowers Underwater with $689 Billion in Negative Equity

      • Data Highlights of 2012 CoreLogic Study

      • A Foreclosure Crisis

      • Conclusion

  • Expert Advice on Your Underwater Mortgage

    • Advice from an Underwater Homeowner

      • Equity Frustration

      • Mortgages Change Hands

      • Trapped in an ARM

      • Alternatives to an Appraisal

      • Many Wait for Real Estate Market to Rise

      • Five Strategic Steps for Underwater Homeowners

      • Staying Financially Sound and Secure

      • Conclusion

    • Advice from a Real Estate Attorney

      • You’re Under Water: When to Contact a Real Estate Attorney

        • Loan Modification

        • Beware of Unscrupulous Loan Modification Companies!

        • Short Sale

        • Foreclosure: Strategic Default

        • Shop Locally

        • HARP: Better Than a Strategic Default

        • Mortgage Brokers Can Help with HARP

      • Options for Homeowners

        • 1. Refinance

        • 2. Modify Your Loan

        • Complicated Maze of Paperwork

        • There May Be Hope on the Horizon

        • Pay off Your Mortgage Insurance

        • 3. Go For a Short Sale

        • A Hit to Your Credit

        • FICO Score Impacts

        • Deficiency Judgment

        • Wait to Declare Bankruptcy

        • 4. Deed in Lieu of Foreclosure

        • 5. Foreclosure

        • Be Strategic

        • 6. Bankruptcy

        • What to Do If You Are Considering Bankruptcy

        • Questions in a Bankruptcy Case

        • 7. Stay Put

        • Stick with the Plan

        • Long-Term Investing

      • “It’s Not the End of the World”

      • Conclusion

    • Advice from a Real Estate Agent

      • First Step: Pay a Visit to a Real Estate Agent

      • Option 1: Modify Your Loan

        • Are Loan Modifications Difficult to Get?

        • The Making Home Affordable Program

      • Option 2: Short Sale

        • Do Lenders Waive Deficiencies?

        • Option 3: Deed in Lieu of Foreclosure

        • Who Qualifies for Deed in Lieu?

        • Be Patient!

        • Consider Renting Back

      • Option 4: Foreclosure

        • Banks Do Not Want to Foreclose

        • Are You Under Water, Too?

        • You Must Transfer Ownership to the Lender

      • Conclusion

    • Advice from a Mortgage Broker

      • Regaining a Foothold

      • Back to the Past

      • Writing on the Wall

        • What Is a Subprime Loan?

        • The Trouble with Stated Income Loans

        • Plenty of Blame to Go Around

      • Underwater Home Owners and HARP

        • Fannie Mae and Freddie Mac Hurdles

        • Mortgage Insurance

        • Lender Overlays

      • Streamline Your FHA Mortgage

      • Options for Other Underwater Homeowners

      • The Trouble with Leviathans

      • How Mortgage Brokers Help Underwater Homeowners

        • What Underwater Homeowners Should Know about Rebates

        • Look for the License

      • “Skin in the Game”

      • Conclusion

    • Advice from a Real Estate Agent

      • Waiting Game

      • Post–9/11 Real Estate Boom

      • Selling an Underwater Home

        • Option 1: Put Money on the Table

      • Option 2: Petition for a Short Sale

        • Goal: Deficiency Forgiveness

        • Petitioning the Lender

        • Beware of Short Sale Scams

        • Finding the Best Option

        • Benefits of a Short Sale

        • Negative Impact of a Short Sale

        • How Long Will It Take?

        • Processes Take Time

        • Short Sale Negotiators

        • Who Pays for the Negotiator?

        • Brokers and the Secondary Market

        • Lenders’ Learning Curve

      • How Much Should a Homebuyer Spend?

        • Front-End Ratio

      • Are Lenders Tougher Than Before?

      • Take Advantage of HARP If You Qualify

      • Conclusion

    • Advice from a Real Estate Agent

      • Typical Scenarios

        • Numbers Game

        • Living Together after a divorce?

      • Short Sale Option

        • Letter of Hardship

        • Decision Time: To Sell Short or Not to Sell Short

        • Credit Score Hits

        • Short Sale Approval Process

        • More Lenders Seek Mortgage Debt Repayment

        • No Profit from a Short Sale

        • Lease–Purchase Agreements

      • Everyone Is Concerned about Value

        • Buyers’ Market

        • How Long Does It Take to Sell a Home?

      • Advice for the Underwater Homeowner

        • Trimming Expenses and Creating Income

        • Loan Deferral Programs

        • Have the Numbers Ready

        • Ignore Bad Advice

        • Caveat Emptor

        • Do Customers Trust Lenders? Maybe not!

      • Conclusion

    • Advice from a Mortgage Broker

      • Benefits of Refinancing Today

      • HARP: For Fannie Mae- and Freddie Mac-Owned Loans

        • When Was the Loan Originated?

        • LTV Ratio

        • LTVs and HARP 2.0

        • The HARP Process

        • Refinancing Options from Fannie Mae

        • Refinancing Options from Freddie Mac

        • How Lender Rules Trump Fannie Mae and Freddie Mac Guidelines

      • Hiccups Along the Way

        • Who Owns Your Loan?

        • Stated Income Loans Disqualify Homeowners

        • Private Mortgage Insurance (PMI)

      • Modification: Start with Your Lender

      • How Long Is It Going to Take?

      • Credit Risk

        • What Is a Good Credit Score?

      • Conclusion

    • Advice from a Real Estate Expert

      • Talk to Your Lender

      • “Be There for the Long Haul”

      • Examine Your Budget

      • How Long Until the Recovery?

      • Changing Attitudes

      • New Market Rising

      • The Keys to a Successful Short Sale

      • Do I Need a Short Sale Facilitator?

      • Your Credit Score

      • To Foreclose or Not to Foreclose

      • Deficiency Forgiveness

      • Relocation Short Sales

      • Short Sale Mistakes to Avoid

      • Improved Forgiveness

      • Conclusion

  • The Real Estate Market: An Overview from the Experts

    • Advice from a Real Estate Economist

      • Watching the Big Picture

        • Valuation Problems

        • Additional Lines of Credit

      • A Farewell to ARMs? Not Likely!

        • Racial Disparities

        • Subprime Mortgages Return

        • ARMs Meet Subprime Lending

      • Why Did Things Go So Far Off Track?

        • Was the Community Reinvestment Act to Blame?

        • Banks Were Not Alone

        • Rating Agency Mistakes

        • Turmoil Continues

      • Gross Overcorrection

        • Slow Growth Ahead

        • Signs of Hope Are Out There

        • Time Frames to Recovery Are Relative

      • Amortization Table

        • Deeply Under Water

        • Secondary Loans

        • How Fast Are Houses Appreciating?

      • Who Should Consider a Short Sale

      • What You Should Know About the Mortgage Forgiveness Debt Relief Act

        • Answers to Common Questions About the Mortgage Forgiveness Debt Relief Act

        • Loan Forgiveness May Not Be the End of Your Debt

      • Conclusion

    • Advice from an Economist

      • Ignore Sunk Costs

      • Ethical Considerations Will Arise

        • Do Not Cheat the System

      • Ask: How Much Am I Under Water?

      • Projecting Future Home Values

      • Why Did Economists Fail to Sound the Alarm Before the Real Estate Bubble Burst?

        • A Perfect Storm

        • Irrational Exuberance Vs. Irrational Pessimism

      • Ethical Dilemmas: Part Two

        • Moral Obligations and Ethical Decisions

      • Are More Regulations the Answer?

      • Are Homeowners Better Citizens?

        • “A Spurious Correlation”

      • Put Aside Cynicism of the Government

      • Conclusion

    • Advice from CoreLogic Chief Economist Mark Fleming

      • Strong Step in the Right Direction

      • Rising Fortunes in Phoenix

      • Negatives Lead to Positives

        • Rebounding Prices

      • No Jobs Slows Equity Growth

      • Home as an Investment?

        • Investing in a Home Is Different Than Buying Stocks

        • Look for Deeper Value

      • Benefits of Real Estate Market Improvements

        • “Good Use of Wealth”

      • Did Government Action Help?

      • Natural Fluctuations

      • Conclusion

  • Housing: Fannie, Freddie, Legal Issues, and Government Programs

    • What You Should Know About Fannie Mae and Freddie Mac

      • Who Is Freddie Mac?

      • Who Is Fannie Mae?

      • How Fannie Mae and Freddie Mac Differ

      • Fannie Mae’s Role in the Market

      • Uncertain Future for Fannie and Freddie

    • Lenders Settle with Homeowners for $25 Billion for Abuses

      • “Largest Joint Federal-State Settlement Ever”

      • Banks Held Accountable

      • Who Is Eligible for Compensation?

      • New Mortgage Loan Servicing Standards

      • Banks Have 3 Years to Comply

      • “Fraudulent and Wrongful Conduct”

      • New Servicemember Standards

      • A Step in the Right Direction but Not an End to the Crisis

      • Is an End to the Crisis in Sight?

      • How Was Settlement Money Spent?

      • Military Protections

    • Twelve Valuable Government Programs

      • How to Prepare for a Call to a Housing Expert

      • Twelve Programs That Can Save You

      • Official Programs vs. Scams

      • Beware of Foreclosure Rescue Scams!

      • One Scam Now in Court

      • Watch Out for These Deceptive Acts and Practices

      • Tips to Avoid Scams

      • What to Do if You Have Been the Victim of a Scam

  • Appendices

    • Glossary of Terms

    • Additional Resources

      • Fannie Mae

      • Federal Bureau of Investigation (FBI): Mortgage Fraud

      • Federal Trade Commission (FTC)

      • Freddie Mac

      • Hardest Hit Fund

      • HopeNow

      • HUD’s Housing Counseling Program

      • Legal Information Institute (LII)

      • Making Home Affordable (MHA) Program

      • National Foreclosure Mitigation Counseling Program

      • NeighborWorks America

      • Single-Family Housing Guaranteed Rural Refinance Pilot Program

      • Trulia

      • U.S. Department of Housing and Urban Development

      • USA.gov

      • Zillow’s Underwater Mortgage Resource Center

  • Index

    • A

    • B

    • C

    • D, E

    • F

    • G

    • H, I, J, K

    • L

    • M

    • N

    • O

    • P

    • Q

    • R

    • S

    • T

    • U, V

    • W, X, Y, Z

Tài liệu cùng người dùng

  • Đang cập nhật ...

Tài liệu liên quan