Perspectives on the latest Fannie/Freddie homeowner rescue plan - by Peter Schiff. Nov 16, 2008 U.S Hot Stocks Leave a comment No doubt prodded by the administration, Fannie Mae and Freddie Mac announced a new attempt to stop the fall in home prices and foreclosures through a loan modification program that would cap mortgage payments so that a homeowner’s total housing expenses would not exceed 38% of household income for home owners who are 90 days delinquent. In a classic case of unintended
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Monday, November 24, 2008
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