The mortgage giants Fannie Mae and Freddie Mac are a still a major concern for the Federal government as they debate on the best ways to dissolve the two. The Feds will be debating three of the possible options that won’t adversely affect the fragile real estate market. Fannie and Freddie were at the heart of real estate crash in 2008. The goal is to slowly wean the mortgage industry from dependency on the Federal Government. Treasury Secretary Timothy Geithner believes that a decision on the destiny of Fannie and Freddie should be decided within the next three months to four months to stabilize the market.
The federally backed mortgage lenders gave out low quality mortgage loans along with other lenders and now the numbers of foreclosed homes who need the assistance of foreclosure lawyers are growing. Many loan recipients could not keep up with their payments and foreclosures are at their highest in years. A foreclosure attorney can inform a defaulted loan recipient on the best options available to them in the foreclosure process.
The US housing market has more federal support than most other countries. Economic times are hard for the American worker and the numbers of foreclosures are rising. When effectively employed a foreclosure lawyer can help those in danger of losing their homes with the default process. With no federal backing the future of real estate is unknown but the hope is the dissolution of Fannie and Freddie will stabilize the market.
