Freddie Mac is one of the two quasi-governmental mortgage investment companies regulated by the Federal Housing Financing Agency. Freddie Mac buys mortgage loans from banks who have made the mortgage loans to consumers. Freddie Mac sets criteria for the loans that they will buy and banks try to meet these criteria in order to sell the loans. When banks get money from Freddie Mac, they have more money to loan to home buyers.
Today on the Ilyce Glink Show, Ilyce discussed the Federal Government's takeover of secondary mortgage market giants Fannie Mae and Freddie Mac. She took calls from listeners like Cathy, who are wondering if the takeover will have an impact on their house closings in the coming weeks. Ilyce's answer: No. She said the takeover should help get the mortgage market moving again as international investors regain confidence in the U.S. mortgage market. Ilyce also took calls from Bob about how he should put money away for his grandchild (who would be the first person in the family to go to college), and from Chris, a real estate broker for 30 years who is incensed about what has happened to the real estate market and Fannie Mae and Freddie Mac. She also answered questions about how to encourage an ex-spouse to refinance a loan after a divorce, whether you should stay in the stock market if you're in retirement, and other investment questions. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
Today on the Ilyce Glink Show, Ilyce talks about how she feels the stock market is still in gyration mode. Now that we fell below the 11,000 barrier, it could happen again. This might create a once in 30-year opportunity to buy equities, which is what she's doing. Find out how she's reorganizing her investment portfolio to take advantage of changes in the market. She also took questions on selling a home before buying, prenups, writing down of mortgage values, Fannie Mae and Freddie Mac, 529 college savings plans (and the tax deduction associated with them) and how to make sure that mortgage payments made in advance are really being credited to your account properly. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
The Dow Jones Industrial Average fell below 11,000 today - the first time it's dropped to this point in two years, according to the Associated Press. ...
What's the penalty if your bank forecloses on you or you just walk away from your house and mortgage payments? Nothing good. On this week's show, Ilyce Glink talked about the new Fannie Mae and Freddie Mac rules that will penalize individuals with a foreclosure on their credit history. To find out the details, tune into this week's show. You can comment on the show at www.thinkglink.com/blog Check out Ilyce's new all-video site, www.expertrealestatetips.net and be sure to subscribe to her YouTube channel.
Ilyce Glink filled in on the Clark Howard Show today. She updated everyone on the goings on in the financial world this week (like the purchase of Bear Stearns, and the ability of Fannie Mae and Freddie Mac to increase the amount of loans they do), and talked about how a lucky company might win $10 million if it can develop a car that gets 100 miles per gallon and meets other eco-friendly standards. For all this and more, click here to listen to the show. And, don't forget to check out www.thinkglink.com/forum for the show notes and Ilyce's newest site, www.expertrealestatetips.net for her videos on buying and selling a house.
You may be wondering whether to refinance your mortgage now. Make sure to refinance your mortgage for the right reasons. Lowering taxes may not be a good reason to refinance. Preventing foreclosure may be worthwhile.