Bloomberg News

FHFA’s DeMarco Says Study Coming Next Month on Debt Forgiveness

March 28, 2012

The Federal Housing Finance Agency will release a study next month about whether it makes sense to allow forgiveness on underwater loans guaranteed by Fannie Mae and Freddie Mac, said Acting Director Edward J. DeMarco.

“We are offering a rich array of tools to help borrowers with their mortgage payments,” DeMarco said today on Bloomberg Television’s “Street Smart” program with Trish Regan.

Three out of four borrowers with GSE loans who owe more than their homes are worth are current on their mortgages, DeMarco said.

To contact the reporter on this story: Clea Benson in Washington at cbenson20@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus