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HAMP to be replaced with ‘Flex Modification’

Dec 19, 2016
Mortgage financing giants Freddie Mac and Fannie Mae announced a new foreclosure prevention program that will roll out next year to replace the Home Affordable Mortgage Program (HAMP), which expires at the end of this month. The new program, called “Flex Modification,” will reportedly provide a 20-percent reduction in mortgage payments for eligible borrowers. The program will be implemented by Oct. 1, 2017. Learn more here.
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Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.