Fannie Mae Gives 3.5 Percent Seller Assistance

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Incentive Part of Ongoing Effort to Stabilize Neighborhoods WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who...
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Homeowner Mortage Help

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Freddie Mac is a company that helps fund mortgages. From the start to finish, we ask the same questions: Do our credit policies and mortgage practices advance responsible lending? The principles drive our business. They also reflect the public mission in our congressional charter. And together, they have led Freddie Mac to take on a greater...
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Real Estate Hardest-Hit Fund

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WASHINGTON, DC — The Obama Administration released the next steps in the recently announced Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (“HFA Hardest-Hit Fund”). On February 19, 2010, President Obama announced additional funding for innovative measures to help families in the states that have been hit the hardest by the aftermath...
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Avoiding Foreclosure

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Contact Your Lender to Avoid Foreclosure Many people avoid calling their lender when they have money troubles. Most of us are embarrassed to discuss our money problems with others or believe that if lenders know we are in trouble, they will rush to collection or foreclosure. Foreclosure is expensive for lenders, mortgage insurers and investors. HUD/FHA,...
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Alert: Mortgage and Loan Modification Scams

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WASHINGTON, DC – The U.S. Department of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, today announced the launch of PreventLoanScams.org. “ Homeowners at risk of foreclosure can be easy prey for home loan modification scammers. Often, dishonest individuals lure vulnerable homeowners into foreclosure rescue scams by making false promises. Scammers...
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Home Sales Down

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The real estate market is still suffering and the weather has not helped. According to the National Associatio of Realtors: The Federal Reserve Board on Wednesday proposed a rule amending Regulation Z (Truth in Lending) to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers...
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Pennsylvania Homeowners And Altieri Builders

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HARRISBURG, PA — As part of an ongoing consumer protection case against Altieri Enterprises, the Attorney General’s Office is requesting detailed information from Pennsylvania homeowners about the losses they have suffered at the hands of this Maryland-based home construction company. Attorney General Tom Corbett said formal notices have been sent to nearly 100 consumers in...
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Freddie Mac 2010 Conforming Loan Limits

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McLean, VA – Freddie Mac’s (NYSE:FRE) conforming loan purchase limits for 2010 are unchanged from those in effect for 2009 for all areas of the United States, according to the Federal Housing Finance Agency (FHFA). The loan limits set the maximum original loan amounts allowed on single-family conventional mortgages Freddie Mac can purchase...
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Existing-Home Sales Down Sharply

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Existing-home sales fell in January but are above year-ago levels, according to the National Association of Realtors®. Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate1 of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the...
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Who Pays For Flood Insurance?

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What government insurance plans are subsidized by the taxpayers and available to everyone? Probably, the only answer is flood insurance. The Federal Emergency Management Agency (FEMA) oversees the flood insurance program. Over the past few years, FEMA has been hammered with insurance claims. In an effort to keep expenses under control, FEMA has been encouraging relocation...
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$2.7 million in Relief to PA Residents for Countrywide Financial Settlement

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HARRISBURG, PA – Foreclosure relief checks totaling more than $2.7 million have been mailed to several hundred Pennsylvania consumers as part of a multi-state settlement with Countrywide Financial Corporation. Attorney General Tom Corbett said the foreclosure relief is part of a broad-based package intended to assist borrowers in Pennsylvania who were allegedly misled by Countrywide...
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Help for the Hardest Hit Housing Markets

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Today, President Obama will announce funding for innovative measures to help families in the states that have been hit the hardest by the aftermath of the housing bubble. In each of these states, the average price for all homeowners in the state has fallen more than 20% from the peak. Home prices...
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RSS Greater Philadelphia Region

  • Mid-Atlantic Region Gets First Certified Electronics Recycler
    PHILADELPHIA, PA — Through a brand new electronics recycling certification program, the U.S. Environmental Protection Agency is taking steps to ensure that electronics recyclers adhere to highly protective standards for workers and the environment in processing pre-owned electronics. This new certification process also means that recycled materials will not […]
  • Get Ready: Set Your Clocks, Check Your Stocks
    Daylight savings time begins on March 14 and the Philadelphia Office of Emergency Management reminds the public to refresh their emergency supplies when changing their clocks with its “Get Ready: Set Your Clocks, Check Your Stocks” campaign. “Make sure you have all of the necessary emergency supplies in your kits, and check the expiration dates on [...] No r […]