Principal Forgiveness Gains Appeal

Fannie Mae and Freddie Mac could save $1.7 billion if they forgave principal on some distressed mortgages, new analysis show.

The Federal Housing Finance Agency– which regulates the mortgage giants — may decide in the next few weeks about whether to use principal forgiveness as a foreclosure prevention tactic, said Edward DeMarco, acting director of the FHFA while speaking Tuesday at the Brookings Institution.

To Read More:  Principal Forgiveness Gains Appeal, April 11, 2012

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