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Fannie, Freddie set to cut mortgage debt for underwater borrowers – report

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Mortgage Professional America | 23 Mar 2016, 06:30 AM Agree 0
After years of resisting the idea, the FHFA is reportedly set to reduce principal on a limited number of underwater mortgages
  • TD | | 23 Mar 2016, 12:15 PM Agree 0
    I am under water on a few investments. Is my bail out coming soon?
  • GF | | 24 Mar 2016, 12:21 PM Agree 0
    Question: If a person has a $300,000 mortgage but the house is only worth $200,000 and Fannie/Freddie cuts the debt to $200,000. If that person then sells the house 5 or 10 years later for $300,000, do they get to pocket that $100,000 that the taxpayers just reduced his debt by? Love how these programs only help out a select few. I guess as usual, people like me get screwed because we live within our means and paid off our house. Nice to know the neighbors can profit once again from a government program.
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