Comments on: Lack of Competition Stifles Refinance Program for Underwater Homeowners https://4closurefraud.org/2012/04/05/lack-of-competition-stifles-refinance-program-for-underwater-homeowners/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Thu, 04 Dec 2025 18:26:47 +0000 hourly 1 https://wordpress.org/?v=7.0.7 By: ruth ann traci https://4closurefraud.org/2012/04/05/lack-of-competition-stifles-refinance-program-for-underwater-homeowners/#comment-367479 Thu, 05 Apr 2012 22:38:28 +0000 https://4closurefraud.org/?p=45353#comment-367479 the loans have been sold to someone else so good luck, even if you once had a loan that the lender was supose to work with it is now sold to someone else; and good luck on modifications, having thought the persons from Federal Housing were wonderful when I was unable to sell, refinance, and all other issues, turned out it went up! considering they planned on things looking better 2 yrs down the road made sense however that didn;t happen and they refused to assist with any adjustment, or even putting it back as is, and then they chase out and even pay out your good tenant covering the mortgage and cause you too go right back into default, unable to cover too households medical bills??? and whatever!

]]> By: keepon https://4closurefraud.org/2012/04/05/lack-of-competition-stifles-refinance-program-for-underwater-homeowners/#comment-367451 Thu, 05 Apr 2012 21:38:45 +0000 https://4closurefraud.org/?p=45353#comment-367451 Ed DeMarco, head of the Federal Housing Finance Agency — which oversees Fannie and Freddie — has stood in the way of (principal) reductions and he’s claimed the support of Fannie and Freddie. But that’s no longer the case. Even Fannie and Freddie now support principal reductions. It’s time for Ed DeMarco to step aside by signing this Whte House petition:

https://wwws.whitehouse.gov/petitions/!/petition/push-fannie-mae-and-freddie-mac-issue-principal-reductions-underwater-homeowners/qtS3crg7

“Senator Demands Answers from Freddie Mac’s Regulator” ( Acting Director Edward DeMarco)
http://www.propublica.org/article/senator-demands-answers-from-freddie-macs-regulator

ProPublica and NPR reported on Monday [1] that Freddie Mac, the taxpayer-owned mortgage-insurance company, placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates.

Questions the senator put to the regulator, the Federal Housing Finance Agency, include why Freddie made the deals in the first place, when the FHFA learned of the trades, what role, if any, the FHFA played in them, and what the FHFA plans to do about the billions of dollars worth of deals Freddie still has on its books.

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