An August Surprise from Obama? | Analysis & Opinion |: "Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion. Recall that on Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011.
The move, if it happens, would be a stunning "
>>>>>>Keep reading
This Editor's OP: And you all know how much the bailouts helped JOE the Homeowner last year - right? Too bad it take s low approval ratings and an upcoming election in November to get the polticians working on the problems. Of course one nice side benefit - all those pesky loans that have fraud rift through them will now be absorbed into the system.
1 comment:
Good Posting in favour of real Estate, Please post more about live places with Photo's.
Great work! It's impressive to read your blog.The information among your site is exactly fantastic, and your blog design is Simple nice.So great job!
Post a Comment