Fannie Mae sees the housing market activity picking up towards the end of 2010 but at a slower rate than previously thought. You can read their announcement
here.
Don Grafues
Resource: Fannie Mae & REALTOR.org
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Wells Fargo
announced that it signed the second-lien modification component of the Home Affordable Modification Program (HAMP). Wells Fargo is the second bank (after Bank of America) to offer loan modifications on seconds.
Second mortgages have been an obstacle to loan modifications on first mortgages. The lender on the first mortgage did not want to take a hit while leaving the second mortgage holder intact.
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