Have you looked at a loan based on the Interest Rate and thought you are getting a great deal? Read an interesting article on how the APR can cost you.
It’s being reported that Freddie has a new affidavit to be executed for Short Sales as they obviously feel there are some challenges with “Flopping” (Flopping is someone buying a property on a Short Sale & then flipping the property for a profit). I really think that Las Vegas is a perfect place for Freddie to “make an example of someone” if they find one.
Many are wondering what the details of the new HARP refinance program are so we wanted you to know what we know. If you or anyone else is curious, please feel free to read this news release http://www.fhfa.gov/webfiles/22721/HARP_release_102411_Final.pdf so you can see what is on the table so far.
Note that One of the most significant statements for us in Nevada is on page 7 where it says “some of the enhancements such as delivery of loans with LTV greater than 125 should be operational during the first quarter of 2012“. Please feel free to call or email our team with any questions as we really want to do what we can to help you & your family. As new information is released we will be more than happy to let you know. Also please remember this loan program is only available for those that have a Fannie Mae or Freddie Mac loan that was acquired by the Federal Enterprises on or before May 31, 2009. You can check to see if your loan is a Fannie/Freddie by contacting them at: