BIG SIGH | Some struggling homeowners may soon find it easier to get mortgage help

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BIG YAWN | Some struggling homeowners may soon find it easier to get mortgage help

BIG YAWN | Some struggling homeowners may soon find it easier to get mortgage help

After the millions that lost their homes…here’s what I have to say. YAWN! Don’t hold your breath.


WAPO-

Some struggling homeowners may soon have a shot at securing a type of mortgage relief that’s been off limits to them for years.

The mortgage finance giant Freddie Mac has agreed to sell a chunk of its most troubled loans to an unnamed investor. That investor can now turn around and reduce the size of the borrowers’ mortgages if it chooses –- an option that would not have been possible had the loans stayed with Freddie.

Freddie, its larger rival Fannie Mae, and their regulator have steadfastly refused to allow such “principal reductions,” fearing in part that the arrangements would entice homeowners to intentionally default on their mortgages so they can get better deals.

[WASHINGTON POST]

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