Tag Archives: Fannie Mae

Property Map For HomeReady Mortgage Program

According to Fannie Mae, the HomeReady program was “designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.” This program offers another avenue for lending. To check a property’s eligibility, click on the map below, which is a tool offered by Fannie Mae.

Whether you’re a real estate agent, home shopper or someone looking to refinance his or her mortgage, feel free to call us (813-707-6200) if you have any questions about  Fannie Mae’s HomeReady program. We will be glad to answer your questions.


Fannie Mae Updates Bankruptcy and Foreclosure Guidelines

The Fannie Mae Selling Guide has been updated to indicate that if a mortgage debt has been discharged through bankruptcy – even if a foreclosure action is subsequently completed to reclaim the property in satisfaction of the debt – anybody who wants to refinance or finance the purchase of real estate is held to the bankruptcy waiting periods and not the foreclosure waiting period.

In such a case, we will obtain documentation to verify that the mortgage debt in question was in fact discharged as part of the bankruptcy. We have helped many clients in this situation. Call 813-707-6200 if you’re interested in a home and are in this situation.