It wasn’t exactly the welcoming response a couple expected when they tried to enter a foreclosed home their son had just purchased. Their two new neighbors held them hostage at gunpoint because the men thought they were trying to rob the place.
The mortgage giants in recent weeks have placed a greater emphasis on short sales. In its latest move, Freddie Mac repositions funds from an underused federal program to give mortgage servicers more money to focus on completing short sales.
More real estate professionals have become concerned about the unauthorized use of their listing data, also known as "scraping." REALTOR.com recently announced major progress in its fight against scraping.
After being criticized that a new rule could shut out too many borrowers, the Federal Housing Administration says it will postpone implementing the rule, which would make it tougher for borrowers with credit disputes on their records to qualify for an FHA-backed mortgage.