Monday, August 15, 2011

HAMP Not Workig - Fannie Mae Breaks Rules To Forelose On Home Owners

Here is an interesting article regarding one of our nations very expensive program that will see some significant changes because it is not working.  Home owners who are more than 12 months delinquent on their loan payments will no longer have the HAMP (re-structuring of delinquent loans) program available to them since FANNIE MAE is now requiring lenders to foreclose on the loan. 

Lenders will start being fined if they delay the foreclosure process.  What this means to delinquent home owners is that they will no longer have years to live in their home without paying their mortgage payment.  Owners will want to get in touch with a Certified Distressed Property Expert (CDPE) to learn about the other various options they have available to them other than being foreclosed on by their lender.

If you or someone you know needs to speak to a Certified Distressed Property Expert (CDPE), call me right away.  Bill Kosena 303-796-0957.

No comments: