In the most pronounced effort yet to aid ailing homeowners, the government and the mortgage industry are working together to expedite the process of restructuring the terms of hundreds of thousands of defaulted mortgages now held by government loan agents Fannie Mae and Freddie Mac. The two companies, now operated by the Federal Housing Finance Agency, intend to implement the new plan on December 15th. At this time, officials are unable to provide the exact number of how many will qualify for the program.
Let us hear your thoughts below: