Fxcktards On Parade: Fannie & Freddie Announce Mortgage Debt forgiveness for ‘certain’ borrowers 8 years after it would have helped the economy…

housinginyourhands

8 years late and an entire fxckin’ TARP trillion short boys. This will just pxss people off.

FHFA announces Principal Reduction Modification program. Details:

The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will offer principal reduction to certain seriously delinquent, underwater borrowers who are still struggling in the aftermath of the financial crisis to help them avoid foreclosure and stay in their homes.  The new Principal Reduction Modification program is a one-time offering for borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac and who meet specific eligibility criteria…

FHFA.gov Fact Sheet

• Are owner-occupants.

• Are at least 90 days delinquent as of March 1, 2016.

• Have an unpaid principal balance of $250,000 or less.

• Have a mark-to-market loan-to-value ratio of more than 115% after capitalization.

(more…)

April 14, 2016. Tags: , , , , , , , , , , , , , , , . CITI, citigroup, Economy, FDIC, Finance, Foreclosures, GOP, Housing, Immigration, Labor Department, migrant crisis, Obama Administration, Politics, Popular Culture, TARP, Taxes, Trump, Uncategorized, Unemployment Statistics, Wall St. 1 comment.

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