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Mortgage giant Fannie Mae said Thursday that it would throw a lifeline to some people losing their homes to foreclosure by allowing them to lease those properties back for up to a year at market rental rates.
Mediation would be a good way to expedite a flood of mortgage foreclosures, a task force said Wednesday, but some panel members disagreed on the details in oral arguments before the state Supreme Court.
Fannie Mae — recently announced a new tool intended to keep people facing foreclosure in their homes. Fannie Mae calls this program Deed-for-Lease, and it is sufficiently proud of the program that it claims a trademark on the name.
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Mortgage Affordability Calculator
This mortgage affordability calculator will help you decide how much you can afford to borrow based upon the information you enter. Simply enter the monthly mortgage payment you can afford, how much interest you expect to pay on your mortgage loan, and for how long. Then the mortgage affordability calculator will give you an estimate of how mush you can afford to spend.
Please keep in mind that this mortgage affordability calculator is meant to be used as a tool to get you on track during your mortgage loan shopping. It will give you a general idea of how much you can afford to borrow and in what price range you should be shopping for.
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