Homeowners’ Emergency Mortgage Assistance Act (HEMA), the dumbest idea in the history of foreclosure legislation, is working its way through Congress.
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Three Columbia professors recently issued a proposal to prevent foreclosures through loan modifications. Their idea: pay the servicers an incentive to do them.
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I’m on hold with a smaller servicer, checking the progress of three Fannie Mae files I’m working on to prevent foreclosure. They just informed me that one of the borrowers had just been approved in July for the Homesaver Advance (HSA).
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For all the talk of “we want to keep people in homes” and “we’re expanding the American Dream,” for all the big talk of the bozos in Congress who provide “oversight” of the GSE’s, numbers recently reported indicate that Fannie Mae is doing FEWER loan modifications, according to Housing Wire.
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