Fannie and Freddie, thanks to the fact that they are now government institutions, are in prime position to offer a number of interesting experiments for helping with the mortgage market crisis. Indeed, the government is hoping to put into motion a plan for mortgage rescue that involves easing payments for those facing foreclosure.
The idea is to help borrowers by making it possible for them to make their mortgage payments — avoiding defaults that could continue to cause problems for the mortgage market. Stock Market Funding reports on the hopes for the new mortgage rescue plan:
Officials
hope to clear the red tape and rigid terms that have doomed past
mortgage-aid efforts without burdening taxpayers with many billions of
dollars in funding costs.
hope to clear the red tape and rigid terms that have doomed past
mortgage-aid efforts without burdening taxpayers with many billions of
dollars in funding costs.
The hope is that borrowers could get easy access to loan modifications that would help them stay in their homes.
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