Govt backing Fannie Mae and Freddie Mac?
“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?