My New Blog

NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.

The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury's website.

Click on link for the whole story...

http://news.yahoo.com/s/nm/20091130/bs_nm/us_treasury_shortsales 

I also have many contact numbers for the loss mitigator of multiple lenders/banks/investors. Call or email me and will be glad to help out.

Also there are many other changes coming up on December 12 that will be affecting borrowers that are trying to get a loan with Fannie Mae as they are lowering the DTI " debt to income" restrictions to 45%.

Jan 1st has a signficant impact regarding the new GFE " Good Faith Estimate" and the new HUD-1 Settlement statement.

So stay tuned and I will blog more on this in the near future.