Obama administration bolsters homeowner lifeline
January 27, 2012
WASHINGTON (Reuters) - The Obama administration on Friday expanded its main foreclosure prevention program and pushed to open it up to loans backed by mortgage giants Fannie Mae and Freddie Mac, a move that could meet resistance from their regulator. In a joint announcement, the Treasury and Housing and Urban Development departments proposed using money from the Home Affordable Modification Program to provide incentives for Fannie Mae and Freddie Mac to reduce loan principal. Government-controlled Fannie Mae and Freddie Mac own or guarantee about half of all U.S. ...
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