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Old 01-28-2009, 03:10 PM
Location: Michigan
29,391 posts, read 55,756,673 times
Reputation: 22047


The Federal Reserve is taking steps to keep some distressed borrowers in their homes, but it may not make much of a dent in the nation's housing crisis.

The new relief plan would apply to the billions of dollars of mortgage assets the Fed is holding on its books because of last year's bailouts of Bear Stearns and insurer American International Group.

ABC News: Fed Moves to Help Distressed Homeowners
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Old 01-28-2009, 06:28 PM
48,493 posts, read 97,141,843 times
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From everyhting I have seen laely ;the problem still is that the value of tho0se mortgages is not really know still. First there has to be a value on thsese bundled mortgaes which veen the banks don't know becfore the fed can buy them from the banks at X on the dollar.
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