|
 Find out the latest regarding FHA lending news as the government gets involved in several bank rescues. Reuters reports that the government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to homebuyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect.
Even though homeowners already behind on their mortgage payments or who are upside down on their loans will see little relief, it will help stabilize the mortgage industry.
By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies' debt is as safe as the Treasury Department's. While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least "keep the lanes in the mortgage freeway open," said Greg McBride, a senior financial analyst at Bankrate.com, possibly putting the market on the road to recovery.
|
