Fannie, Freddie Will Not Forgive Underwater Debt

Real Estate Agent with Berkshire Hathaway HomeServices Professional Realty 200039

Despite rumors to the contrary sweeping Wall Street and Washington, D.C., the White House says it is not planning to order Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of people who owe more than their homes are worth.

"The administration is not considering a change in policy in this area," said Treasury spokesman Andrew Williams.

Mortgage bond prices stabilized after that rumor was quashed.

Source: Reuters News (08/05/2010)

Richard Shuman
The Only B.S. I Have is from the University of Massachusetts - Lake Mary, FL
Real Estate Broker - Orlando Area - Love Referrals


There is too much news and blogs posting information - Thanks for sharing the truth!


Aug 09, 2010 01:34 AM
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

A home is an investment as well as a place to live.  Sometimes you have to ride out the bad markets and wait for the good ones.   That is why you shouldn't think of a home as a temporary place to live.

Aug 09, 2010 01:40 AM