Govt backing Fannie Mae and Freddie Mac?

Credit and mortgage advice Forums Consumer Credit Debt Management Govt backing Fannie Mae and Freddie Mac?

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      “WASHINGTON – The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move 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?

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