Redding's Ups and Downs Fannie Mae to File Lawsuits June 29th, 2010 9:55 AM Fannie Mae intends to file lawsuits against homeowners walking away from their loan because their home value is upside down even though they can afford the payments.  Also, Fannie Mae could possibly force them to wait seven years before obtaining another mortgage backed by the organization. But experts wonder how the firm will determine which home owners defaulted strategically. Experts also question whether the policy is viable given its departure from White House initiatives to bolster the housing market. The policy is intended to force borrowers to pursue short sales or surrender the deed, rather than enter foreclosure, says Fannie Mae. Source: New York Times, David Streitfeld 06/25/10 Posted by Bob and Tricia Mitchell, Realtors on June 29th, 2010 9:55 AMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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       Bob Mitchell, CRS, GRI and Tricia Mitchell, CRS, GRI, ePRO 
Real Estate Professionals GMAC, Redding, California  
           530 224-6756         mitchell@awwwsome.com             866-424-6756