New Fannie Mae Plan

August 2nd, 2010 by Eric
Categories: News

Fannie Mae intends to file lawsuits against so-called strategic defaulters and force them to wait seven years before obtaining another mortgage backed by the organization. But experts wonder how the firm will determine which home owners defaulted strategically.

Experts also question whether the policy is viable given its departure from White House initiatives to bolster the housing market.

The policy is intended to force borrowers to pursue short sales or surrender the deed, rather than enter foreclosure, says Fannie Mae.

Tags: deed, fannie mae, White House

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