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Dodd-Frank bill proposed rule changes will affect hard money industry

December 3, 2012 by Bill Fulton

The following info is courtesy of Athas Capital. Visit them for your hard money loan needs! With the Dodd Frank bill having no chance for repeal it looks like we will have to live with their new purposed rule changes. Most of these new rules that will affect our industry center around Owner Occupied residential consumer deals. These changes will start in January 2013!!! So we … [Read more...] about Dodd-Frank bill proposed rule changes will affect hard money industry

Fannie and Freddie to allow principal reductions

September 15, 2012 by Bill Fulton

In a rare victory for proponents of principal reduction, Fannie Mae and Freddie Mac said they will immediately allow their borrowers to participate in Keep Your Home California and other states' Hardest Hit Fund programs that shrink the mortgages of troubled borrowers using taxpayer funds.California officials made a significant change to the program last year, dropping a … [Read more...] about Fannie and Freddie to allow principal reductions

Freddie Mac clears mortgage principal reduction in more states

September 12, 2012 by Bill Fulton

Freddie Mac will allow mortgage servicers to apply federal taxpayer dollars to reduce principal or pay past due balances for struggling borrowers in all states that have designed such programs."Effective immediately, (servicers) should participate in state (housing finance agency) modification assistance programs that permit (servicers) to apply funds as a partial principal … [Read more...] about Freddie Mac clears mortgage principal reduction in more states

San Bernardino Eminent Domain Fight Closely Watched By Other Struggling Communities

September 2, 2012 by Bill Fulton

The proposal also comes amidst broad frustration with the Obama administration, which has so far refused to offer a broad-based plan to bail out underwater borrowers, even as taxpayers have spent hundreds of billions of dollars to prop up banks.via San Bernardino Eminent Domain Fight Closely Watched By Other Struggling Communities. … [Read more...] about San Bernardino Eminent Domain Fight Closely Watched By Other Struggling Communities