On Thursday, Fannie Mae announced that it was increasing its maximum number of allowable days for a foreclosure sale in 33 states. But Fannie Mae wasn’t alone. Freddie Mac has also announced that it is increasing the maximum number of allowable days for “routine” foreclosure proceedings in those same 33 states.As with Fannie Mae, Freddie Mac said the new foreclosure timelines apply to all foreclosure sales completed on or after Aug. 1.According to the announcement, Freddie Mac also increased the maximum number of allowable days for the following jurisdictions: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Nevada, New Mexico, New Hampshire, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Dakota, Tennessee, Texas, Vermont, Washington, West Virginia, Wisconsin, and Wyoming.
Down Payments Get Smaller – Real Estate News – realtor.comJanuary 24, 2015
“It is getting easier for some buyers to land a house with less money up front. More lenders are lowering down-payment requirements, allowing borrowers to commit 3%—or even less—of a home’s purchase price to get a mortgage. Most had been requiring down payments of 20% or more since the recession began, with a few exceptions. […]