How To Spark Home Buying Again
Banks are being bailed out and more home loans are being modified, but what to do about home sales? What will spark people into home buying again? A new plan has been announced to be in development to use Fannie Mae and Freddie Mac to reduce mortgage rates for new home loans as far as 4.5%. it is not clear at this point how such a plan will be implemented. The government could perhaps buy down interest rates using TARP funds or they could perhaps just create a new temporary program through the two government controlled agencies FANNIE MAE and FREDDIE MAC.
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