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 [...]
The Fed Launches Another Mortgage Bailout Plan
November 25th, 2008 · No Comments
Tags: 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 [...]
Tags: "mortgage modification" · Foreclosure Information · Government Bailout
Roundup of Lenders Participating in the Streamlined Mortgage Modification Plan
November 13th, 2008 · 1 Comment
Fannie Mae, Freddie Mac and HOPE NOW, along with the Treasury and Federal Housing Finance Agency (FHFA), devised a free market plan to help only those homeowners whose mortgages are guaranteed toxic. In compliance with the Bush Administration doctrine – assist no homeowner who can make his payments or can be foreclosed profitably. [Sarcasm homegrown]. [...]