The Market Series

By Ralph Roberts The Treasury Department recently released a report, which include eligibility requirements to determine which homeowners qualify for relief under the plan. Following are the eligibility requirements as specified in the guidelines: Mortgage must have originated on or before January 1, 2009. Home must be an owner-occupied primary residence (verified with tax return, [...]

By Mary Ellen Podmolik September 2009, Chicago Tribune A few years ago, few people in the housing market had ever heard of a short sale. Mention the term today and people, whether they are homeowners or real estate agents, just roll their eyes. The practice, which involves selling a property for less than the amount owed [...]

Washington Report: Tax Credit Changes by Kenneth R. Harney Published: September 21, 2009 The first major change to the $8,000 home buyers tax credit began moving through Congress last week, giving hope to real estate and building groups pushing for extension of the entire program before it expires Nov. 30. House Ways and Means Committee [...]

A loan modification is a mutual agreement by the lender and the borrower to change in the terms of the loan so that the loan is more affordable to the borrower over the long term, so the borrower can stay in their home. A true loan modification is a permanent solution that serves the best [...]

The Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac,recently announced a new Streamlined Modification Program that is designed to help struggling borrowers avoid foreclosure by having Fannie Mae work with mortgage servicers to modify loans into more affordable terms. You may qualify if all of the following are true: Your mortgage [...]