Freddie Mac

Report: Freddie Mac Nixed Refis For Troubled Borrowers

Posted on 10/26/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsWhen millions of borrowers were locked into high-interest mortgages that hiked their monthly payments to unaffordable levels, mortgage giant Freddie Mac made it more difficult for them to refinance to lower-interest loans, to avoid cutting into company profits, according to a published report. The tightening of refinancing rules occurred during the deepest years of the recession, when homeowners needed help the most, causing hundreds of thousands of delinquencies and foreclosures, according to economists and former and current Freddie Mac officials …

Next States to Vote Are Ground Zero of Housing Crisis

Posted on 01/24/2012 by |AARP Blog Author | Comments

Bulletin TodayWelcome to the front lines of the housing crisis. Florida and three of the next states to vote in the GOP presidential contest are among the 10 worst foreclosure states in the nation. And there’s not much light at the end of the tunnel: The four states have the highest percentage of homeowners who owe more on their mortgages than their homes are worth. Nevada, which votes Feb. 4, had the worst foreclosure rate in the country in 2011, for …