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Fannie Mae to charge strategic defaulters for everything Re: the millions of gallons of oil spilled in the Gulf, here is the six of hearts from a deck of playing cards issued by the US Army : From MaxKeiser.com Images
Fannie Mae has stated that strategic defaulters won’t be eligible for a Fannie Mae-backed mortgage for seven years from the date of the foreclosure. Fannie Mae also stated that it will take legal action to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency.
Your credit score will be burned if you foreclose, and now Fannie Mae is threatening to compound the problem by "locking out" strategic defaulters for a period of seven years. In a plan announced.
Fannie Mae to Charge Strategic Defaulters, for Everything. Fannie Mae to Charge Strategic Defaulters, for Everything. I have blogged/shared this before, I will keep sharing it! Furthermore anyone who takes all the appliances, cabinets, toilets, etc from their short sale/foreclosed home should also be punished.
Fannie Mae Lockout Won’t Work, Will Hurt Economy – Opposing Views – Fannie Mae’s lockout will not work. For strategic defaulters, the numbers do the talking. Many of my credit clients are underwater by as much as 75 percent. Fannie Mae is giving these people a choice: They can either wait for their equity to return, or they can face a seven-year lockout as renters.
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Clear Capital: Momentum continues to build for housing recovery December home price trends offer further confirmation of the West’s leading charge in the market’s recovery, notes Clear Capital. "2013 should be interesting for the housing market, where national gains should continue to see upward growth but likely at a more modest rate," said Villacorta.
Fannie Mae to Charge Strategic Defaulters, for Everything. I have blogged/shared this before, I will keep sharing it! Furthermore anyone who takes all the appliances, cabinets, toilets, etc from their short sale/foreclosed home should also be punished.
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Fannie Mae’s lockout will not work. For strategic defaulters, the numbers do the talking. Many of my credit clients are underwater by as much as 75 percent. Fannie Mae is giving these people a choice: They can either wait for their equity to return, or they can face a seven-year lockout as renters.
The actual Fannie Mae announcement quotes Terence Edwards, executive vice president for credit portfolio management at Fannie: "Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting.