Fannie, Freddie to Reconsider Mortgage Reductions

Unfortunately, Fannie and Freddie own the vast majority of non-performing mortgages.  This article points out that they are considering principal reductions via HAMP.  Good news for those homeowners but this could turn into a very large mortgage write down for Fannie and Freddie.  Taxpayers will be picking up the tab.  From DS News:

http://www.dsnews.com/articles/npr-reports-gses-could-be-considering-principal-reduction-now-2012-03-23

 

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About northwoodsdeals

Jim Mulleady is the Broker for Coldwell Banker Mulleady REALTORS located in Eagle River, WI. Jim has a BS in Industrial Technology from UW Stout and an MBA - Marketing from DePaul University. Jim has over 20 years of marketing and sales experience.
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