Rick Sharga: Is this the end of the housing recovery?

Rick Sharga: Is this the end of the housing recovery?

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Servicing / The Ticker

Fannie, Freddie to allow on-time borrowers to walk away

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Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money.

Source: Bloomberg
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