U.S. takes over mortgage giants Fannie Mae, Freddie Mac; Fannie and Freddie guarantee nearly half of all U.S. mortgages; WSJ Editorial: Frank ignored risks to Fannie and Freddie; Frank: Republican Congress to blame for problems at Fannie & Freddie; Frank:
January 24, 2009
Future Of Fannie And Freddie; Mortgage Foreclosure Rate
November 12, 2008
Protect Yourself From Mortgage Fraud
In this new web commercial from Freddie Mac, learn to spot a foreclosure scam and find out how to avoid becoming victim to home foreclosure fraud. (Follow this link for a Spanish version: youtube/watch?v=qQQJ6unRYaY)
It’s one of the biggest financial bail outs in the history of the United States and its impact is being felt around the world.
The US Federal Government has taken over the mortgage giants Freddie Mac and Fannie Mae. The two acccount for nearly half of all the outstanding mortgages in the US.
Together they own or guarantee mortgages worth more than $5 trillion - almost the equivalent of Japan’s GDP.
And the threat to them is very real because of the housing market collapse. One in ten Americans is behind on payments or faces repossession and both companies are losing billions.
John Terret takes a look at the details of the bailout plan.
