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| Economy |
| Fannie Mae To Penalize Defaulters Who Walk Away |
| 2010-06-23 |
| Fannie Mae, Wednesday revealed policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will not be eligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure. Borrowers who have extenuating circumstances may be eligible for new loan in a shorter period. |
| Posted by:tipper |
| #5 "Extenuating circumstances" Registered Democrat or approved associates such as the Obama approved New Party. |
| Posted by: ed 2010-06-23 22:11 |
| #4 ...not legal? |
| Posted by: Procopius2k 2010-06-23 20:06 |
| #3 "Extenuating circumstances", Not White, Not Male, Not American? |
| Posted by: Bright Pebbles 2010-06-23 19:10 |
| #2 Borrowers who have extenuating circumstances may be eligible for new loan in a shorter period. "Extenuating circumstances" defined as ...... having fewer than 3 outstanding equity loans on the former property? |
| Posted by: Besoeker 2010-06-23 18:30 |
| #1 Wow, that's punishment. No more largesse for seven whole years! |
| Posted by: Anonymoose 2010-06-23 18:24 |