As global markets rejoice over the U. S. Government take over of Fannie Mae and Freddie Mac, let’s remember who the U. S. Government is. That would be US.
I am not sure this move will help the housing market nearly as much as it will help the investors, whose greed caused the mortgage crisis in the first place.
Straight from the public pages of the National Association of REALTORS site, offered here without comment or explanation.
You can decide what impact this will have on your ability to get a mortgage, your home’s value going forward, and your tax obligations.
We Realtors love helping people. Than “help” usually consists of marketing homes and working with home buyers. My goal is that my clients and past clients see me as a resource for all their real estate concerns and needs.
With the current state of our economy, it is inevitable that some of our clients are probably having some sort of financial problems, maybe even facing foreclosure. Many folks try to keep their financial difficulties secret, sometimes until it is too late for help.
Free mortgage counseling is available through Neighbor Works, by calling the toll free number 888-995-HOPE. They match clients with local counselors who shoot straight and do everything they can to solve problems.
I notice that the help-you-out-of-your-mortgage-problems scams are on the rise: people are signing over deeds and paying fees, only to lose even more in the long run.
888-995-HOPE should be your first call for mortgage problems.