Fannie Offers Hand to Investors

From an article by Harry Terris:

“Fannie Mae is replacing a forbearance program for troubled borrowers with one that will make the breaks available to property investors and owners of second homes. In a forbearance, the government-sponsored enterprise reduces the monthly payment on a mortgage for up to six months. The current program only provides this relief for loans on owner-occupied properties.

The GSE said it wants to give property investors and owners of second homes “new options of support” since they are ineligible for the Obama administration’s Home Affordable Modification Program.”

Read the entire article here.

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