Gov’t Announces Plan to Stem Foreclosures

Posted by Patrick O'Connor on 11/11/08 1:45 pm

In what’s being hailed as a step in the right direction, but not a panacea, the FHA announced that Fannie Mae and Freddie Mac will speed up anti-foreclosure efforts to keep potentially hundreds of thousands of people from abandoning their mortgages.

“This is a step in the right direction but falls short of what is needed to achieve widescale modifications of distressed mortgages,’’ said FDIC Chairman Sheila Bair.

Bloomberg article
Yahoo Finance article
MarketWatch article
WSJ article

To receive email updates from Navellier All Cap Blog, click here.

• 
• Email
• Print
• Comments (0)

No comments have been posted for this entry.

Post a Comment

You must register and log in in order to post comments.