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  • Author unknown

    Fannie/Freddie bailout only helps some borrowers

    http://mortgage.freedomblogging.com/2008/09/07/no-surprise-u...
    88 days ago in Mortgage Insider - OCRegister.com · Authority: 102

    Fannie/Freddie bailout only helps some borrowers September 7th, 2008, 9:49 am by Jon Lansner/O.C. Register columnist The government early Sunday announced it was taking control of financially shaky mortgage giants Fannie Mae and Freddie Mac. The deal should make it easier and cheaper to get a mortgages, but won’t help troubled borrowers, the Associated Press reports: “The bailout will give the mortgage industry a stability that we haven’t had in a couple of years,” said Rich Cosner, president of Prudential California Realty. “But frankly no, it won’t help (struggling borrowers) to refinance.” (READ MORE HERE) Here’s what you need to know … News Flash from Associated Press U.S. Treasury’s focus: “Market stability, mortgage availability and taxpayer protection.” White House statement: “Critical to the health of our financial system” Fed boss Bernanke says: “Necessary steps” Wall Street may cheer Fannie, Freddie bailout (Associated Press) Fannie, Freddie blind to the bubble (Associated Press) Video of Treasury Secretary Paulson discussion the move (Bloomberg) How Freddie overstated its financial cushion (New York Times) Presidential campaigns react (New York Times) The new bosses at Fannie/Freddie (Reuters) Vote: Will this help O.C. housing? Read more Fannie & Freddie