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Who is the president of the Federal Home Loan Mortgage Corporation?
Maxine B. Baker is the president of the Federal Home Loan Mortgage Corporation which is also referred to as Freddie Mac. She is also the CEO of the company.
When was the Federal Home Loan Mortgage Corporation established?
established in 1970 under Title II of the Emergency Home Finance Act of 1970. This agency was established to strengthen the secondary markets in residential mortgages insured by the FHA or guaranteed by the Veterans' Administration
Why did the federal government take over fannie Mae and Freddie mac?
The federal government took control of Fannie Mae and Freddie Mac on Sunday in a bid to keep the two mortgage giants from failing, catastrophes that would have made home loans harder to get and taken the nation's housing collapse to a new level of crisis.
Philadelphia is home to the first federal structure comissioned by the federal government what is it?
The U. S. Mint
Was the role of the federal housing administration?
To insure home loans
Can you keep your home after filing bankruptcy if you have a second mortgage if you want to reaffirm with your first mortgage?
Whether or not a home is forfeited depends on the state or federal homestead exemption, and if the lender is willing to reaffirm the loan agreement. Second mortgages are considered secured debt and have the same legal standing as first mortgages.
What are the types of federal mortgage loans?
Not sure what you mean by "federal mortgage loans," but two possibilities are: Veterans Administration (VA) loans that are made by local lenders/mortgage companies and guaranteed by the federal government; and Federal Housing Administration (FHA) loans that are made by local lenders/mortgage companies and insured by the federal government. Also, the USDA offers subsidized loans to farmers and low-income homeowners in rural areas. Other possibilities are Federal National Mortgage Association (FannieMae) and Federal Home Loan Mortgage Corporation (FreddieMac). They are considered Government-sponsored Enterprises. They purchase mortgage loans that are made by local lenders/mortgage companies.
Can you use a second mortgage as a down payment?
You can use a 2nd mortgage on a home for the down payment of another home. The payment for the 2nd mortgage will need to be added to your debt ratios.
Can I get home equity with Mortgage Refinance Debt Consolidation?
I think you probably can get home equity with mortgage refinance debt consolidation. You will need to sit down with your lender in order to get the refinance done. It's almost like applying for a mortgage all over again.
How can I make my first home mortgage easier?
No you cannot easily take a mortgage out of a first home easily and you make sure that your debt scales would be around 650-750 and mortgaging your first home will be sanctioned if you have low debt profile.
Who is the president of the Federal Home Loan Mortgage Corporation?
Maxine B. Baker is the president of the Federal Home Loan Mortgage Corporation which is also referred to as Freddie Mac. She is also the CEO of the company.
What is a mortgage refinance loan for?
A mortgage refinance loan is exactly what the term implies. A homeowner can refinance a mortgage on their home in order to get a lower interest rate on their remaining balance on their mortgage debt.
Are you a homeowner if you pay mortgage?
You are, but your mortgage company is on the deed and is also considered an owner of your home.
Do you have to pay anything after the foreclosure if the second mortgage wasn't covered?
Yes. As the debt holder you are required to pay for both the first and second mortgage. Both debt instruments are secured by the home, however they are considered independent where the first mortgage was held by a mortgage finance company and the second was held by a bank. If the first mortgage is paid by means of the sale of the home to another entity via auction or some other means, unless the balance of the second mortgage is covered in the process, this leads to a situation where the first mortgage loan holder walks away happy with the debt paid, leaving you with the balance of the second mortgage to pay yourself. Usually, a deal can be worked out with the second mortgage creditor where you can pay less on the mortgage balance than the full balance if you make a lump sum payment to close the debt. This is usually in their best interests as the debt is no longer secured by the home. When you do this, be warned, that the discount that they give you will come to hit your around tax time as this discount is considered a taxable credit. If you find yourself in this situation, make yourself a part of the solution in the eyes of your creditor and get to know your creditor on a first name basis. Do not stop making payments, and if you have... start, and let them know that you are trying to work with them to do the right thing. This will help you keep the debt that is owed out of collections and save the situation from impacting your credit score.
Can a mortgage debt from foreclosure be leined against a vacation home?
The answers on this depend greatly on the state the home is in, whether or not the home that was foreclosed was an investment or primary residence, and what type of mortgage debt you're referring to. If you can clarify these points I will be better able to answer your question. No matter what the answer, no lien can be placed on your other property without a court judgment. Whether or not the mortgage company can take you to court over the debt is what depends on the facts mentioned above.
A home mortgage is considered a secured loan because it is backed by?
Ownership of the home. Until the mortgage is paid, the lender retains a financial interest in the home.
What does CMHC mortgage calculator calculate?
CMHC mortgage calculator can help home buyers to evaluate their financial situation and understand how much debt they can handle. It will also calculate your interest payments and total debt amount.
