Freddie Mac has announced that it will stop buying and securitizing interest-only loans in September because those mortgages have performed so poorly.
What does this mean for buyers? Prepare to pay for your home the traditional way, with principal and interest payments on your mortgage, only after qualifying for the loan by proving your income and credit history.
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2010
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March
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- $18,000 in Combined Homebuyer Tax Credits for a Li...
- March Market Activity
- Homebuyer Tax Credit legislation
- Fed to end MBS purchases
- Builder confidence declines two points in March
- La Jolla Market Update
- Coronado Market Update
- Fed holds rates at record lows to foster recovery
- Tax exemption for homeowners in distress goes to g...
- Future Foreclosures Could Hamper Housing
- Fewer homes enter foreclosure process in February
- Govt to Pay Homeowners to Sell at a Loss
- Buyers Who Wait May Lose a Lot
- Fannie Mae Seeks Another Bailout
- Many borrowers in default stay put as lenders dela...
- Freddie Mac abandons ship on interest-only loans
- FHFA extends HARP for one year
- California new-home production rises in January
- No Meaningful Recovery in Commercial Real Estate B...
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March
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