Fannie, Freddie to Create Joint Firm as Reported by the Wall Street Journal

Freddie Mac

Freddie Mac (Photo credit: Wikipedia)

BY NICK TIMIRAOS of The WSJ Reports;

The regulator overseeing Fannie Mae and Freddie Mac announced Monday one of the most concrete efforts to date for building a new infrastructure that could ultimately replace the government-controlled mortgage companies.

Edward DeMarco, acting director of the Federal Housing Finance Agency, said the agency would begin forming a company that would consolidate some of the “back-office” functions currently replicated individually by each firm. The company would have its own chief executive and board and for now would be jointly owned by Fannie and Freddie, Mr. DeMarco said in a speech Monday before the National Association of Business Economics in Washington, …

Maybe something good will come of the Government’s Sequestration?!  Please stay tuned to our Blog for more Details as this NEWS evolves, or you may contact us at PlatinumElite.com or call us at 702-869-9999 to discuss how this may affect your Home or current Listing with us.

 

Zombie “Foreclosures” as Reported by CNNMoney.com

English: Foreclosure auction 2007

Zombie foreclosures: Borrowers hit with debts that won’t die

By Les Christie @CNNMoney February 22, 2013: 1:04 PM ET

Les Christie @ CNNMoney touches on a subject that Donald Lainer covers in his Neighborhood Home Rescue Workshops.  This Article is important as Homeowners do not realize that a Deed-in-Lieu or Foreclosure can come back to Haunt them like a “Zombie” if the bank sinks a great deal of money into the property for repairs or losses and determines to forward those costs onto the past Homeowner via a 1099 Filing for “Earned Income.”  You can see a Sample of Don’s Neighborhood Home Rescue Workshops on our Youtube Channel as well as other “Featured Videos.”  We will be releasing Chapters from Donald Lainer’s Neighborhood Home Rescue via Youtube that cover subjects like;

  • The Las Vegas Market & How did we get here
  • Distressed Homeowner Options
  • Short Sale Options and Benefits
  • Foreclosure | Mediation
  • Bankruptcy
  • Credit Ramifications
  • Moving Forward with Lending Options
  • Estate Planning & how to protect your assets

Featured Guest Speakers & Professionals in each of these areas of practice cover their “No Cost Fee & No Advance Fee” Programs through the Neighborhood Home Rescue Resource Network.  For these video chapter release notifications and reserve a seat at future events RSVP to Events@PlatinumElite.com or call us at 702-869-9999.