6 Articles match "Homes","New York","Reform"

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• New York Versus Freddie Mac: Round One
  
  New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens next:
  www.realtytrac.com - Tuesday, February 3, 2009
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• Freddie and Fannie Spurn New York Subprime Loans
  
  Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York. Last week, New York Governor David A. Patterson signed into law a subprime lending reform bill (S.8143-A/A.10817-A), creating stringent lending guidelines for subprime lenders. Under the new law, investors, including loan buyers like Freddie Mac and Fannie Mae, are held liable for mortgage fraud. It also lays out requirements for brokers to act in borrowers’ best interests, and mandates all local
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Hold Onto Your Hat and Hat Rack
  
  The New York Times recently reported in two related stories that in some instances, homeowners who have already lost their homes to foreclosure are now faced with suffering the greatest embarrassment of all — having their personal items auctioned off. the story says that it’s the town itself that is required by an antiquated 19th Century state law to collect and store the belongings of people who have been ejected from their homes by state marshals. There’s a warm wind swirling around this country right now, and it may just blow the hat off of your head…and take along with it everything else you own as well.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosure "Megatrends"
  
  Home prices are falling. In a presidential year, Uncle Sam and politicians nationwide are rushing to unveil new and bolder schemes to unravel the foreclosure crisis. As federal, state and local government weighs in of the rising foreclosure mess, look for new plans to halt the foreclosure train wreck. Bankruptcy reform. Foreclosures are rising. Sales are down.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• As Foreclosures Mount, Candidates React to the Credit Crisis
  
  Meanwhile, the rising flood of foreclosures promises to become a major presidential campaign issue in the weeks and months ahead because an alarming 2 million American homeowners could lose their homes by November 2008. Here’s what the major presidential candidates have to say about the growing foreclosure epidemic: Democrats The three main Democratic presidential candidates — Clinton, Obama and Edwards —have made various proposals for modest reform, including setting up a federal fund to help homeowners fend off foreclosure and providing borrowers with counseling, along with laws to
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• No Mortgage Meltdown For These Banks
  
  Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one would find with banks of similar size. Loans can be brought current and homes can be sold or refinanced to avoid foreclosure. As one example, Hermance says that of 50,000 New Jersey mortgages No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good, especially in the world of mortgages.
  www.realtytrac.com - Tuesday, February 3, 2009
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