Mortgage Forum

Mike

So I keep hearing about adjustments made for Fannie Mae and Freddie Mac and now Ginnie May II as well. I just read this story "U.S. to ease capital limits on Fannie, Freddie Mortgage giants get more funds to help home owners to refinance", and I do not get it. My loan is financed through a subprime lender and managed through Saxon (natoriously difficult), so what does this assistance mean to a person like me? I would love to hear from anyone that can explain this to me, I thought that Fannie and Freddie only worked with conventional and government backed loans. Will these additional funds in some way add the poor saps such as myself who were suckered into a subprime loan and than had it sold 3 times in the first month? Sorry I am a little bitter about hearing all this aid that is being put out there, but not really sure who it is helping. :eek: Tiffany