As those of you who regularly follow this blog know, the five largest mortgage lenders recently concluded a $25 Billion settlement with 49 of the 50 states, which will put some cash into the hands of foreclosed homeowners and possibly provide some alternate resolution to others facing foreclosure. There has been a push recently to get Fannie Mae and Freddie Mac to sign on to the settlement as well, which would only benefit homeowners in distress, although exactly how much is not yet known. While neither Freddie nor Fannie have acceded to this idea, please be aware that it is out there and when something happens, good or bad, we'll get you the info as soon as it's available.
Good Luck.
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