All Posts Tagged With: "Anti-Foreclosure"

Government Rolls Out Long-Sought-After Anti-Foreclosure Program

Fannie Mae (FNM) and Freddie Mac (FRE), the mortgage giants taken over by the federal government back in September, will lower monthly payments for hundreds of thousands of struggling U.S. homeowners as part of a plan to accelerate anti-foreclosure efforts, federal officials announced yesterday (Tuesday).

Fannie and Freddie, the nation’s two-largest mortgage holders, will target loans in which borrowers are 90 days or more delinquent, and have high loan-to-income ratios, Bloomberg News reported. The companies may offer homeowners reduced interest rates and longer terms of as much as 40 years to trim monthly payments. By rewriting the terms on some overdue loans,…

12Nov2008 | Money Morning | Comments Off | Continued

  • Polls

    How Has The U.S. Recession Affected You?

    View Results

    Loading ... Loading ...
    • Improve the web with Nofollow Reciprocity.