Portland Real Estate Blog 
Fannie Mae to Pursue Deficiencies
Friday, July 16th, 2010 at 11:48am. 63 Views, 0 Comments.
Apparently the word on the street is that Fannie Mae plans to make it harder to "strategically default". Many homeowners who are "upside down" (owe more than their home is worth) are just walking away. This is a big no no according to Fannie Mae. The mortgage giant plans to sue to recoup losses from people who don't try to work with their lenders to pursue some kind of workout first (loan modification, short sale, deed-in-lieu) and don't have any extenuating circumstances. Not only that, but they are saying that people in that situation won't be abe to get a new Fannie loan for 7 years.
Now, law suits may not be possible depending on state laws. Questions on whether this is possible should be put to an attorney, but Fannie is definitely trying to make…
Closed Sales Up 77.2%!!!
Wednesday, April 28th, 2010 at 3:51pm. 182 Views, 0 Comments.
According to RMLS (our local MLS), closed sales were up 77.2% in March 2010 versus Feruary 2010. I have a sneaking suspicion that this is due to the first time homebuyer tax credit getting ready to expire.