Fannie-Freddie Bailout Could Cost Taxpayers $1 Trillion:
According to the Congressional Budget Office, the losses could balloon to $400 billion. And if housing prices fall further, some experts caution, the cost to the taxpayer could hit as much as $1 trillion. Ref. Source 2
Fannie Mae Seeks $1.5 Billion From U.S. Treasury After 12th Straight Loss:
Including today's request, Fannie Mae has drawn $86.1 billion in aid. The growing tally has helped spur the Obama administration to solicit proposals to fix the companies, and prompted some lawmakers to demand their closure. Ref. Source 5
Fannie Mae OKs Foreclosure Delays for Hardest Hit Fund Assistance:
Fannie Mae has issued a notice to its servicers, instructing them to postpone foreclosure proceedings for unemployed homeowners who are receiving help through Hardest-Hit Fund programs run by state housing finance agencies. Ref. Source 7
Fannie, Freddie bailout: $153 billion ... And counting:
When the dust settles, the federal bailout of Fannie Mae and Freddie Mac will be the most expensive government rescue of the financial crisis -- it already stands at $153 billion and counting. Ref. Source 1
Fannie, Freddie to raise rates
Mortgage / Home Buyer News
Borrowers, get ready for higher interest rates on new conforming mortgages.
It's no secret that rates have already risen as the outlook for the U.S. economy has brightened in recent weeks. But rates on some new home loans are also set to go up regardless of economic activity.
That's because Fannie Mae and Freddie Mac, the two
Source: Bankrate.com » Mortgages