Heard this story on the radio this morning, and if I wasn't already so jaded I'd be pretty shocked. Did anyone else hear about this?
Freddie Mac Betting Against Struggling Homeowners : NPR
I'm not too extremely worried because I've got a Fannie Mae loan (trying to refinance under HARP2 - fingers crossed), but it's probably something worth being aware of.
I heard it also on NPR this morning while getting ready for work! I could not believe it!!! They bet against their loans and then fail to modify mortgage requests. In summary, if the loans fail they collect, if the owner continues to pay the high principle and interest they collect.
Hi amber_b,
Thank you for sharing this eye opening article with us.
Best Regards,
Cat Damiano
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You have got to be kidding me! So we bail them out as the hardworking tax payers and now they BET AGAINST the homeowners?
I'm here for the long haul to make sure that WE win more and they LOSE!!!
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