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Posted on: Thursday, June 24, 2010 at 1:22 pm
Las Vegas Real Estate.
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Fannie Mae Intensifies Penalties for Strategic Defaulters
June
24th
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WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure. Borrowers who have extenuating circumstances may be eligible for new loan in a shorter timeframe. Read More on Fannie Mae Website
Posted on: Thursday, June 24, 2010 at 1:22 pm Las Vegas Real Estate. You can follow any responses to this entry through the RSS 2.0 feed.
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