Archive for the ‘Foreclosure’ tag
Freddie Mac Doubles Financial Incentives to Servicers Who Help Borrowers Avoid Foreclosure
Freddie Mac today told mortgage servicers it was
doubling the amount of money it pays for each workout
that keeps a delinquent borrower with a Freddie Mac-owned mortgage out of
foreclosure.
Freddie Mac also announced it will start reimbursing servicers for the
cost of door-to-door outreach programs, give servicers more time to
negotiate workouts in states with fast foreclosure processes, and make
administrative changes intended to streamline the workout process.
Hope Now Alliance Saves 1.9 Million Homes From Foreclosure
Mortgage service providers have staved off the foreclosure of
1.9 million homes in the past year in what has been the
largest bailout the housing industry has ever seen, according to Hope
Now, the private sector alliance of mortgage service providers,
counsellors and investors…