Fannie Mae and Freddie Mac, once the twin kingpins of the home loan market, have been languishing in Federal conservatorship since September 6, 2008. While their continued presence is an embarrassment to many on both sides of the political aisle, it is generally understood that the agencies can’t be axed without seriously disrupting the market, and that a phase-out should occur over a period of years -- to coincide with a phase-in of the institutions that will replace them. The problem has been the a
A reverse mortgage is one on which the loan balance rises over time, with no repayment obligation so long as the borrower resides in the house that secures the mortgage.
Mass privatisation of European housing stock has created a class of 'poor owners', trapped in a cycle of poverty.
Author: Wolfgang Amann