Freddie Mac Betting Against Struggling Homeowners
Stuck In 'Financial Jail'
Some homeowners believe the current re-fi game is stacked against them.
--addresses the example used in the article, of a couple who got caught with two mortgages, did a short sale, and do not qualify for refinancing:
ProPublica's Off Base Charges About Freddie Mac's Mortgage "Bets"
I hate to sound heartless, but their credit recor[e]d would clearly show that they have defaulted on their mortgages on their old home. They are NOT a candidate for a refi. They MIGHT be a candidate for a principal mod (which is what banks traditionally did for underwater but potentially salvageable borrowers). The ProPublica reporting here is completely disingenuous.
The discussion following her post is quite spirited!
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