« once approved with a fha loan, is it possible to get rejected for credit resons?
FHA Loan Limit for 1st Time Home Buyer? »

Fannie Mae and Freddie Mac, backed by the Govt?

“WASHINGTON – The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental go designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation’s mortgage debt, a person briefed on the matter said Friday night. ” AP

If a person has a mortgage backed by Fannie or Freddie, does this affect them? Would it affect a homeowners ability to refinance through the FHA streamline refinance program?
Thanks!

Related FHA and HUD Posts

Tags: , , , , , , , ,
Tags: , , , , , , ,

This entry was posted on Tuesday, June 16th, 2009 at 8:28 am and is filed under FHA Refinance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Top incoming search terms for this post

One Response to “Fannie Mae and Freddie Mac, backed by the Govt?”

  1. I Buy And Sell Houses says:
    June 16, 2009 at 8:28 am

    If a person has a mortgage backed by Fannie or Freddie, nothing will change. The documents are already in place. The loans are already in place.

    Regarding an ability to refinance, that depends on whether the government’s action will directly or indirectly affect that specific program. Honestly, I don’t know. My best guess would be: Not immediately. Longer-term, though, it could.

    Really, all this is unexplored territory for everyone–lenders, real estate agents, even the government.

    Hope that helps.

Leave a Reply

Tags: failure,  Fannie Mae,  fannie mae and freddie mac,  fha streamline refinance program,  Freddie Mac,  friday night,  mortgage debt,  mortgage market, 

Recent Posts:

Latest FHA 203k Auctions
FHA Mortgage Limits.mp4
Mortgage Loan Tips.
FHA Streamline Refinance Bad Deal
Difference Between Home Loan Modification And FHA Refinance

Related results on Fannie Mae and Freddie Mac, backed by the Govt?

  1. Barney Frank Wants Government To Enter Municipal Bond Insurance ...

    The IMBAC proposal is pure insanity. The government has proven it no idea how to price risk, and even if it did, government ought not be competing with private enterprise. Fannie Mae (FNM) and Freddie Mac (FRE) are proof enough. ...

  1. Economic Crisis News March 18, 2010

    According to the Bureau of Public Debt, there is $8.15 trillion in U.S. government debt owned by the public. In addition, now that the United States has taken control of the failed mortgage giants Fannie Mae and Freddie Mac, the government is ... That would trigger a huge decline in the value of treasuries and mortgage-backed securities. The balance sheet of every U.S. financial institution?JPMorgan, Goldman, Citi, your neighborhood bank, the Federal Reserve, money-market ...

  1. JUMBO LOAN UPDATE: 3/18/10 - Newport Beach Lifestyle Real Estate

    Mortgage rates continued to hold steady this week despite the end of the Federal Government's Mortgage-Backed Security Purchase Program that expires March 31st. The Fed has no immediate plan to extend the program. ... Since all loans today are underwritten to much stricter guidelines than in the past, perhaps enough confidence has been restored to allow these investors to start buying Fannie Mae and Freddie Mac Mortgage-Backed Securities again. Time will tell. ...