The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards.
Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac [...]
Entries Tagged as 'Government Bailout'
The Fed Launches Another Mortgage Bailout Plan
November 25th, 2008 · No Comments
Tags: Government Bailout
FDIC Seizes Downey Savings and Loan, PFF Bank and Trust, Community Bank of Loganville, Ga
November 21st, 2008 · No Comments
Breaking news from WashPost: Federal regulators seized three banks tonight, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that the pace of failures is increasing.
The Federal Deposit Insurance Corp., which took control of the [...]
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
Fannie Mae and Freddie Mac Halt Foreclosures through Jan 9, 2009.
November 20th, 2008 · No Comments
Mortgage giants Fannie Mae and Freddie Mac have directed their network of servicers to halt all foreclosure and eviction proceedings between Nov. 26 2008 and Jan. 9, 2009, meant to give a recently announced rescue plan time to work.
The Streamlined Modification Program, set to launch Dec. 15, enables delinquent borrowers to get a modified mortgage [...]
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
