Monday, February 9, 2009

Fannie Mae to lower refinancing standards

Guaranteeing home loans issued to people with no proof of employment, bad credit scores, and almost no equity is what bankrupted Fannie Mae and Freddie Mac in the first place.

So of course, that's the "new" strategy the government is taking by lowering standards for re-financing loans. Washington might as well take our tax money and throw it on a bonfire.

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