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Unsecured Loans for Delinquent Fannie Mortgages

#1 (permalink)

06-17-2008, 01:04 PM

Veronica Corningstone Veronica Corningstone is offline

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Unsecured Loans for Delinquent Fannie Mortgages

Fannie Mae has advised servicers that the HomeSaver Advance is immediately available as one of their loss mitigation options. The minimum advance is $1000.01 and the maximum advance is the lower of 15 percent of the original unpaid principal balance or $15,000 -- though there is no loan-to-value requirement and appraisals are unnecessary. No payment or accrued interest is required for the first six months.

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