Real Estate Roundup by Sharon Alva (with link to Open Homes guide)
Mortgage lending has always been undecipherable to the lay person: FHA, CalHFA, Fannie Mae, Freddie Mac, Libor Index, ARM, REO and on and on. Today troubled loans are directed first to HARP, then HAMP, and finally a short sale using HAFA, along the way stumbling over other acronyms in the alphabet soup that is our current world.
So here is a very partial primer to the real estate terms and acronyms. I have included some oldies but goodies like FHA, and newfangled ones like HAFA and HARP. Hopefully this can be helpful if you are looking to refinance, short sale or avoid foreclosure on a property.
For the full story, plus new open home listings, click here.