Anyone know? And please don't answer that they won't be allowed to by the government . I all ready know that. I want to know what are the consiquences of them not being bailed out??What would happen to the mortgages/properties if Fannie Mae and Freddie Mac were allowed to fail?
Since they are the biggest backer of mortgages, rates would climb out of control. Loans would be almost impossible to get even for highly qualified buyers because loans would no longer be guaranteed by the government. I read a good article on this at bankrate today. http://www.bankrate.com/brm/news/mtg/mor鈥?/a>What would happen to the mortgages/properties if Fannie Mae and Freddie Mac were allowed to fail?
another company would buy the loans out and you would have to make the mortgage payments payable to the company who bought the loans.
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