ForeclosureA court techniques where assets mortgaged once the coverage having a financing is available to pay the defaulting borrower’s personal debt
Government Mortgage Home loan Organization – FHLMC (Freddie Mac computer)A shareholder-possessed enterprise produced by Congress you to definitely sales traditional mortgage loans throughout the second home loan field from insured depository associations and HUD-acknowledged financial lenders. It sells participation transformation certificates safeguarded by the swimming pools of old-fashioned mortgage money, the principal, and you can appeal secured by authorities from the FHLMC. It also carries Authorities National Mortgage Relationship (GNMA, or “Ginnie Mae”) ties to boost loans to finance the acquisition of mortgage loans. (more…)