what non-sense - California AG Requests "Good-Faith Pause" on GSE Foreclosures

Why is government  getting involved with principal reduction? How is that fair to those of us who won’t be getting this hand-out? As it is there is a shortage of homes available for people who can afford them to buy them today.


Gov’t needs to stay out of the market. The government’s cheap rates, and insurance were as to blame for the easy money lending that caused this housing meltdown, and I hardly think they know what they’re doing now. Govt needs to stop interfering.


From DS News

California AG Requests "Good-Faith Pause" on GSE Foreclosures

Insistent that principal reductions are the best line of defense in loss mitigation, California Attorney General Kamala Harris is calling on Fannie Mae and Freddie Mac to halt foreclosures in her state while the Federal Housing Finance Agency (FHFA) considers whether principal reductions are an appropriate strategy for the GSEs. In a recent letter to FHFA Acting Director Edward DeMarco, Harris requested a "good-faith pause on foreclosure sales in California" while the FHFA continues to investigate the pros and cons of principal reductions. » Read More



- sunil



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