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Analysis: US bill rates risk going negative, but stimulus could change the course
channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
Analysis: U S bill rates risk going negative, but stimulus could change the course
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Analysis: U S bill rates risk going negative, but stimulus could change the course
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National Foreclosure and Eviction Moratoria Extended
In late December 2020, prior to the change in Presidential administrations, the Department of Housing and Urban Development (HUD) announced an extension from December 31, 2020, to February 28, 2021, of its foreclosure and eviction moratoria for single-family FHA insured mortgages and REO properties due to the COVID-19 pandemic. This was the fourth extension of the FHA moratorium.
On January 19, 2021, one day before the change in Presidential administrations, the Federal Housing Financing Agency (FHFA), which regulates Governmental Sponsored Entities (GSEs) The Federal National Mortgage Association (Fannie-Mae) and The Federal Home Loan Mortgage Corporation (Freddie Mac), announced that it was extending the GSEs’ moratoria on single-family home foreclosures and real estate-owned evictions to February 28, 2021. This was the fifth extension of the GSEs’ foreclosure and eviction moratoria.
Understanding each homeowners’ best options is key to being a real estate professional who advises homeowners in need of selling their home, especially when they are upside down or in default of their mortgage.
For many homeowners, bankruptcy may be a much smarter choice than facing foreclosure. But they may not have all the information they need to make the right decision. That’s where the agent comes in.
The purpose of bankruptcy is to offer financial relief to individuals when burdened with debt and looking for a “fresh start.”
In bankruptcy, homeowners have the option to retain or surrender their home. If they chose to retain, the homeowner must bring their home current or qualify for a modification. The harsh reality is that the vast majority of homeowners who are delinquent in bankruptcy end up in foreclosure. For homeowners that chose to surrender their home, the bankruptcy trustee becomes the legal seller and has the right to sell the home and settle the debts. How