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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 home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.