A petition to Bolster the Housing Market by Reforming Regulations Concerning Short Sales

Bolster Homeownership and the Housing Market by Reforming Regulations Concerning Short Sales

• Have the FHFA change Fannie and Freddie’s guidelines regarding how long a consumer waits to be eligible for a new mortgage after a short sale to no waiting period if there were no late mortgage payments prior to the short sale and 1 year if there were.

• Have HUD amend FHA’s requirement to wait 3 years after a short sale where the consumer had late payments in the 12 months preceding the short sale. It should be amended to a 1 year.

• Have HUD clarify their guidelines regarding buying a short sale where the consumer didn’t have late mortgage payments prior to the short sale.

• Have the FHFA, pressure PMI companies to waive their right to deficiency judgment in the event of a short sale.

• Impose a 5 year moratorium on deficiency judgments on first mortgages.

CLICK HERE TO SIGN THE PETITION

PASS THE WORD using the social media links below!

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New Consumer Financial Protect Board goes live today

New Consumer Financial Protect Board goes live today. The CFPB is part of last years Dodd / Frank financial reform disaster bill. In theory, the new agency sounds great. The reality is something completely different.

For starters… they are already going after the wrong people…

Here is another great video from the boys over at TBWS.

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