Mortgage Foreclosure & Refinance Resource

Risks are rising that Fannie Mae and Freddie Mac may need a government bailout that could cost far more than previous rescues. NEW YORK (CNNMoney.com) — Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac. Although [...]

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The president of the Federal Reserve Bank of San Francisco said Wednesday the mortgage crisis and financial services turmoil are likely to be a “major drag” on the national economy through 2009.Janet Yellen told a conference of local business leaders that because of those issues, she expects little or no growth in the national U.S. [...]

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PERHAPS the greatest scandal of the mortgage crisis is that it is a direct result of an intentional loosening of underwriting standards – done in the name of ending discrimination, despite warnings that it could lead to wide-scale defaults. At the crisis’ core are loans that were made with virtually nonexistent underwriting standards – no [...]

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