One new foreclosure avoidance option is Fannie Mae’s Deed-For-Lease program, announced November 5, 2009. Remember, this option is only available after a borrower has exhausted all other options including a short sale!
Fannie Mae Servicing Guide Announcement 09-33 introduced the Deed-for-Lease Program (D4L), allowing qualified borrowers (or tenants) with properties transferred through deed-in-lieu of foreclosure (DIL) [...]
Entries from November 2009
November 20, 2009
Deed-For-Lease program
November 9, 2009
President signs federal tax credit extension
President Obama today signed a bill extending and expanding the Federal Tax Credit for Home Buyers. The bill passed the U.S. House of Representatives yesterday and the U.S. Senate late Wednesday.
The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. [...]
November 6, 2009
NEARLY $3 MILLION SETTLEMENT FOR HOUSING DISCRIMINATION
NEARLY $3 MILLION SETTLEMENT FOR HOUSING DISCRIMINATION
The U.S. Department of Justice has obtained a record $2.725 million settlement against Los Angeles apartment owners for alleged rental discrimination. In a lawsuit brought in August 2006, the Justice Department claimed that Donald T. Sterling and others engaged in discriminatory practices, such as refusing to rent to [...]
