Executive Perspectives Blog
Today, homeowners visiting FreddieMac.com looking for help with their mortgage will have a better experience in navigating and understanding available relief options thanks to the Mortgage Help Navigator – a new online tool that steers borrowers to information about options that may best meet their personal circumstances. Over the past 18 months, we greatly enhanced and expanded our foreclosure prevention policies and programs so we designed the Mortgage Help Navigator to help ensure that homeowners are learning about the right ones for their individual needs.
A little-known change in Freddie Mac’s rules could be a big help to qualifying retiring Baby Boomers and other savvy homebuyers who have limited incomes but substantial financial assets, for a low-rate conforming, conventional mortgage.
This is a time of substantial progress in the mortgage market – progress that's very real, even if it's not very glamorous. In the words of Freddie Mac CEO Don Layton, all of us in this industry are "present at the creation" of a better and more resilient system of mortgage finance. And it's one that can last for many years if we do it right.
Pre-purchase financial counseling may reduce, by an average of 29 percent, the likelihood of a first-time homebuyer becoming seriously delinquent, according to the initial findings of a new analysis of 38,000 Freddie Mac mortgages made to first-time homebuyers and low- to moderate-income families between 2000 and 2008.