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Foreclosure Nation: Squatters or Pioneers?

by Moe Bedard

Mamyrah Prosper steps gingerly over ankle-high grass strewn with plastic bags and empty soda bottles in the yard of a vacant redbrick house in Miami’s Liberty City. She peers through a gap in a boarded-up window. “It looks in good shape,” she says. “I mean, the walls aren’t falling down. This is definitely one of [...]

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Lenders are delaying deals that could save everyone – including the lenders themselves – a lot of time and money.

by Moe Bedard

NEW YORK (CNNMoney.com) — Banks say they want to help troubled homeowners, but they are delaying deals that could save everyone – including the lenders themselves – a lot of time and money.
Lenders are taking much longer than necessary to approve short sales, according to Duane LeGate, of House Buyers Network, a short sale specialist.

In [...]

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Fannie Mae boosts mortgage counseling program

by Moe Bedard

NEW YORK (Reuters) – Fannie Mae, the largest provider of funding for U.S. residential loans, is boosting its program that pays counseling fees for delinquent borrowers as it works to curb foreclosures and its own losses.
Fannie Mae (FNM.N: Quote, Profile, Research) is extending a temporary program to reimburse mortgage servicers for counseling costs through the [...]

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