Homes And Condos

Fannie Mae, Freddie Mac look at new loans

With foreclosures rising, federal bank regulators called on lenders Tuesday to work with distressed borrowers unable to meet payments on high-risk mortgages to help them keep their homes. The heads of Fannie Mae and Freddie Mac said the mortgage finance giants are developing new types of loans to aid homeowners in avoiding default.

Spike in foreclosures predicted

Amid continued signs of deterioration in the nations mortgage market, a Congressional panel Wednesday forecast a sharp rise in housing foreclosures, and several Democratic lawmakers called for a federal bailout for borrowers who are at risk of losing their homes. By msnbc.com’s John W. Schoen.

Look for a major mortgage company that has competitive rates, responsive and organized loan consultants and require your consultant to attend the closing.

Forecast: Median home prices will drop
The National Association of Realtors on Wednesday said it expects the national median price for existing homes to drop this year for the first time since the trade group began keeping records in the late 1960s.

Frauds compound pain of foreclosures

Eylonda and Tyrone Wynn of Dallas thought their prayers had been answered when two young women from Resolutions Foreclosure & Home Mortgages knocked on the door in December 2005.

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