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The Federal Housing Finance Agency released its Q3 2017 Foreclosure report, which outlined its continued efforts to decrease foreclosures among homeowners. Among the data, short sales and deeds-in.
– Such action is not profitable for the bank. If a bank believes it can make more money through foreclosure, either because the property has equity or the federal government is providing financial incentives to the bank to foreclose, the bank might reject a homeowner’s offer to deliver the deed in lieu of foreclosure.
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the Federal Housing Finance Agency, Fannie Mae and Freddie Mac to improve the short sales process. NAR’s concerns were rst addressed on May 14, 2009, when the Obama Administration announced the outline of a program to provide incentives and uniform procedures for short sales and deeds-in-lieu of foreclosure (DIL)
To achieve this goal, the Norwegian government set a short-term. What will happen to sales once the credit expires? Pending congressional legislation, H.R. 6274, seeks to resolve this issue. While.
If the borrower expresses interest in a short sale and the servicer determines that the borrower meets the eligibility criteria for a Fannie Mae short sale as stated above, it must place a property valuation order directly with Fannie Mae to determine the market value of the property securing the mortgage loan.
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· Time will tell whether this government-sponsored incentive will serve its intended purpose. One would expect that its success will depend on the values attributed to properties for which short sale approval is sought and the magnitude of the losses a lender is required to absorb from such a sale.
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Fannie Mae announces new deed-in-lieu requirements.. Federal Incentives Coming for Short Sales, Deeds-in-Lieu. 64,393 HAMP failures resolved with short sales, deeds-in-lieu.