Critics say new federal mortgage plan not enough (AP)

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Troy Courtney stands on the porch of his Mill Valley, Calif., home on Saturday, Nov. 1, 2008. His family is about to move out of the house following a foreclosure.  (AP Photo/Noah Berger)AP - Once again, the government has offered another plan to help troubled homeowners. Once again, critics say it doesn't go far enough. The plan announced Tuesday by federal officials and mortgage giants Fannie Mae and Freddie Mac sounds sweeping in its approach: Borrowers would get reduced interest rates or longer loan terms to make their payments more affordable.

--- AP ...



categoriaPersonal Finance commentoNo Comments dataNovember 11th, 2008

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  • Fannie Mae posts record $29 billion loss (Reuters)