Tuesday, September 17, 2013

Press Release -- FHA and Fannie Mae recently open the gates to homeowners who were displaced due to the housing crisis

Press Release -- FHA and Fannie Mae recently open the gates to homeowners who were displaced due to the housing crisis

Fannie Mae, the government owned housing loan lender, is also looking to relieve this reporting error.
Under Fannie Mae’s new program, these homeowners now have a chance to apply and receive a new loan in as soon as two years. Under the old program, a homeowner in this situation would have to wait at least seven years before applying for a new mortgage.
“Again, we need to applaud FHA and Fannie Mae in lessening the onus on these homeowners and allowing them to secure a mortgage to get back into a home and resume life as they once knew it,” Kayser said. “Many of these displaced homeowners have had to make shift their living arrangements with renting or other less desirable alternative means. 
Fannie Mae’s plan is set to begin on Nov. 16, 2013. The timing of FHA’s new program release is uncertain at this time.
--
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*