Today Fannie Mae posted a $2.2 billion dollar loss, but underneath their announcement Fannie Mae showed initiative with a new mortgage aid program which could put $10 billion in financing to play for qualified first time homebuyers.
"Keys To Recovery" is the new multi-purpose aid program that has a series of "keys" to help not only first time homebuyers but those who are in fear of losing their homes. Additionally the program includes a rent-to-own option for those who have been hit the hardest.
NAR President Richard F. Gaylord stated, "We appreciate these new initiatives, which demonstrate Fannie Mae's commitment to sustainable homeownership."
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