18% of GSE loans are attached to second lien

HousingWire estimated that less than 18% of Fannie Mae and Freddie Mac mortgages have a second lien. Both enterprises have a total of 29.2 million home loans when combined. And 18% of which, or 5.1 million have a second lien attached.

A massive first-lien reduction plan would only unjustly force more borrower payments to the banks that hold the second liens.

The Treasury Department has worked with the Federal Housing Finance Agency (FHFA) in order to give more taxpayer dollars to Fannie Mae and Freddie Mac so they could write down the principal for those delinquent first-lien borrowers.

The details on the average second lien sizes are not available as it has always evades analysts.

What scares the FHFA is that it will promote borrowers who have current loan default to take advantage of the program. The current ratio of underwater homeowners who are still paying for their mortgages is 3 in 4.

The bright side is, forbearance programs are available, which would mean that monthly payments will be reduced. Meanwhile, it would be more beneficial and less costly to the government sponsored enterprises like Fannie Mae and Freddie Mac to extend loan terms.

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Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents


Stephanie Anson

When choosing a Gainesville, FL short sale agent, Stephanie Anson understands how avoiding foreclosure impacts you and your family’s life as well as those around you. Stephanie Anson is a respected member of the local business community and knows what it takes to prevail. She is one of the most dedicated and committed Gainesville, FL short sale agents. Her experience and emphasis on customer service and satisfaction along with her technological background has been a driving force throughout her real estate career. From the time Stephanie served in the US Navy to now, she takes the time to get to know each of her clients, associates, and industry professionals and forms lifelong relationships with them.

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