Fannie Mae and Freddie Mac are the two federally-backed agencies that are responsible for the large majority of mortgages in the United States. Congress and the White House are now at odds as to how to deal with these financially ravished, federally-backed agencies.
Steps need to be taken to reform the mortgage business. There has to be greater consumer protection for prospective homeowners. Changes must be made regarding how the mortgage servicing industry deals with prospective homeowners. Mortgage companies must work with borrowers who unfortunately fall behind on their mortgage payments. Action must also be taken to deal with the bundling of loans for sale to investors. These loan bundling schemes were a significant part of the current mortgage crisis.
Democrats and Republicans Both Agree and Disagree
Democrats and Republicans both agree that Fannie Mae and Freddie Mac should not continue to exist. The problem is Democrats and Republicans can’t agree on what should replace them. Both the Democrats and Republicans want the private market place to assume the responsibility currently maintained by Freddie Mac and Fannie Mae. The actual setup of the new organizations is the subject of spirited debate between the two parties in Congress, as well as within the Obama Administration.
Foreclosure Defense Lawyers in New York
If you have problems with a mortgage modification, we can help you. If you have difficulties dealing with mortgage modification programs that fail to approve your application, we are the lawyers for you. Should you be the subject of a foreclosure lawsuit, we are the lawyers for you. We litigate foreclosure proceedings. We provide foreclosure defense for our clients. We maintain a foreclosure blog to educate our clients and homeowners throughout the Metropolitan New York area with regard to their rights in foreclosure proceedings.
We litigate defective mortgages, predatory lending issues, defective foreclosure lawsuits, bad faith and other related real estate issues. We also assist our clients in filing Chapter 7 and Chapter 13 bankruptcies.
We meet with our clients, we review all of the financial documents related to their mortgage and loan modification and we set up a plan to help keep them in their homes. Feel free to call us at 1-800-344-6431, 516-561-6645 or 718-350-2802. We can help you!!
