FHFA Announces Mortgage Relief Plan
London, Wednesday, November 12, 2008 ARANCA News Report (www.aranca.com) :The Federal Housing Finance Agency (FHFA) unveiled a plan that could help relax payment terms for thousands of homeowners facing foreclosures. “Foreclosures increased 150 percent over the last two years. Foreclosures hurt families, their neighbors, whole communities and the overall housing market. We need to stop this downward spiral. It is an achievable goal if homeowners, banks, mortgage servicers and investors, Fannie Mae, Freddie Mac all work together,” said FHFA head James Lockhart. Together, Fannie Mae and Freddie Mac own or insure nearly 31 million mortgages or about 58 percent of all U.S. single-family home loans
———-
To read the complete story, click here
