Fannie Mae to Deny New Mortgages to All Strategic Defaulters for 7 Years

June 24, 2010 by Monica McNamara · Leave a Comment 

June 24, 2010 (Washingtonpost.com) Government-sponsored mortgage purchaser Fannie Mae is trying to encourage distressed homeowners to find alternatives to foreclosure by banning those who walk away from getting new loans for seven years.  Troubled borrowers who do not try in good faith to work out a deal, but have the capacity to pay, are targeted [...]