Fannie and Freddie Modifying Loans? What Does That Mean for the Appraiser?

According to , the Obama administration has put heat on Fannie & Freddie to write down and modify underwater loans. The loan modifications appears to be the unicorn of the real estate industry, as we have all heard about people who have had a successful mortgage modification, but non of us have had any luck or met anyone first hand who has been successful in a loan modification. With current market projections stating interest rates are to How To Get Out Of Paying Back A Payday Loan rise in 2011, overall loan origination down, and the widely whispered shadow inventory, it is a likely scenario that something will need to be done to address the issue of the over supply of inventory and the projected rates at which people are leaving their homes due to not being able to make the payments, and have unsuccessfully tried mortgage modifications to slow down the flood of unwanted and unaffordable inventory hitting the market.
At the rate at which homes are declining, and interest rates projected to increase and the shadow inventory to fend with, market experts are estimating it will take until 2014 for home prices to fully stabilize and show any signs of significant value increases. For all of us who are in the real estate/appraisal/appraisal management company industries, we can benefit from this scenario in many ways. First, as appraisers and as an appraisal management company serving California, most notably the Sacramento and Roseville areas, we can offer our services to mortgage professionals, attorneys, and home owners to provide a current fair market value of their home, quality appraisal to arm themselves How To Get A Business Loan With No Money in an attempt to obtain a mortgage modification, mortgage professionals and attorneys can market themselves to home owners in an attempt to provide a service to keep families in their homes. And if, the modification does not work, real estate agents can work with home owners to educate them about the benefits of a short sale over a foreclosure, which in the big swing of things, will also benefit the real estate appraiser and mortgage professional when the home that failed mortgage modification was sold via short sale resulting in a purchase appraisal for the appraiser, a loan for the mortgage professional, and a sold house for a real estate agent who now is a short sale specialist.
And while we are not out of the woods just yet, we have many opportunities to gain new clients despite which way the market goes. All we have to do is continually look for “who moved our cheese.” Until next time, visit our website at Apex Appraisal Service and see the services that we offer and if we can help you or your clients. Below is a link to the story: Fannie & Freddie modifying loans?

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