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Treasury’s “NEW” Short Sale Guidelines

By: Myles, December 10th, 2009

The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.
To qualify under these new guidelines:
1. The property must be the home owner’s principal residence.
2. The home owner must be delinquent on the mortgage or close to defaulting.
3. The loan must have been made before Jan. 1, 2009, and […]

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Posted in Treasury, Short Sale | No Comments »

Right from the horses mouth: Sec. Paulson Revamping the system

By: Myles, September 19th, 2008

Read Treasury Secretary Henry Paulson’s statement, unedited …addressing the root cause of the credit crisis.

September 19, 2008: 10:24 AM EDT
WASHINGTON — Statement by Treasury Secretary Henry M. Paulson.
Last night, Federal Reserve Chairman Ben Bernanke, SEC Chairman Chris Cox and I had a lengthy and productive working session with Congressional leaders. We began a substantive discussion on […]

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Posted in Fannie Mae and Freddie Mac, Economic Stimulus, Cresession, Foreclosures, SEC, Federal Reserve, Delinquency Rates, Residential Real Estate, Home Equity, Regulation, Mortgages, Bankers, Subprime, Real Estate Brokers, Market Trending | No Comments »