Posted To: Pipeline Press
I was reminded that 70% of the US economy is propelled by consumers, all consumers. Last night, after giving a speech to some UC Berkeley econ students, I was in a book store and the gal in front of me asked the clerk, "Do you have a book on 'Karmageddon'? Its like, when everybody is sending off all these really bad vibes, right? And then, like, the Earth explodes and it's like, a serious bummer." Berkeley is eternal. In what many view as big news, Fannie Mae adjusted its underwriting criteria for borrowers who have experienced a "preforeclosure event" . This term encompasses preforeclosure sales, short sales, or deeds-in-lieu of foreclosure. Starting in July, Fannie has changed the waiting period after the event and based it on the LTV for the transaction and…(read more)
Forward this article via email: Send a copy of this story to someone you know [...]
Original post by Rob Chrisman
Brought to you by for Todays Mortgage NewsTags: foreclosure