![\"Woodbury-Story](\"http:\/\/commons.wikipedia.org\/wiki\/File:Woodbury-Story_House_2.jpg\" "\\"Woodbury-Story")
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Fox News<\/a>\u00a0reported today that Freddie Mac lost\u00a0$4.4 billion, or $1.86 per share, in the July-September quarter and is asking the federal government for\u00a0$6 billion in additional aid. That’s billion with a ‘b.’<\/p>\n The article reports:<\/p>\n Taxpayers have spent about $169 billion to rescue Fannie and Freddie, the most expensive bailout of the 2008 financial crisis. The government estimates it could cost up to $51 billion more to support the companies through 2014.<\/strong><\/p>\n Freddie and Washington-based Fannie own or guarantee about half of all U.S. mortgages, or nearly 31 million home loans worth more than $5 trillion. Along with other federal agencies, they backed nearly 90 percent of new mortgages over the past year.<\/strong><\/p>\n Charles E. Haldeman Jr., Freddie’s chief executive, said many homeowners are refinancing<\/span><\/a> at lower mortgage rates or are shortening the terms of their mortgage. While that saves homeowners money, it is pushing Freddie deeper into the red.<\/strong><\/p>\n “In fact, borrowers we helped to refinance will save an average of $2,500 in interest payments during the next year,” he said.<\/strong><\/p>\n Meanwhile, on July 9, 2011, rightwinggranny.com<\/a>\u00a0reported that\u00a0Eric Holder’s Justice Department has asked several major banks to relax their lending standards in order to make home ownership available to more Americans. Here we go again.<\/p>\n<\/div>\n Fox News\u00a0reported today that Freddie Mac lost\u00a0$4.4 billion, or $1.86 per share, in the July-September quarter and is asking the federal government for\u00a0$6 billion in additional aid. That’s billion with a ‘b.’ The article reports: Taxpayers have spent about … Continue reading <\/a><\/div>\n","protected":false},"excerpt":{"rendered":"