This is something urgent that you will want to read immediately....
Effective next week Fannie and Freddie and freezing all foreclosures. In other words, no family will lose their home that is owned by the FHA over the holidays.
Expect to see more foreclosure moratoriums…typically for 90 days. Don't be surprised if the new President calls for a National 90 Day Mortgage moratorium.
Will this do anything positive to help the real estate markets?
California tried this and..it didn’t have any sort of significant effect. Expect to see a massive number of foreclosures hit the market after this artificial reprise….GO HERE NOW TO READ THE WHOLE STORY IN DETAIL.
As an investment company which primarily buys foreclosures this could potential hurt our business. I've been hearing about this and will continue to watch the situation closely thanks for the heads up.
Wow unintened consequences can be rough. As momma used to say, the road to a really hot place is paved with good intentions.