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US takes over key mortgage firms

By
Nishikant
on September 7, 2008 10:52 PM | | Comments (0) | TrackBacks (0)
US financial officials have outlined plans for the government to take over the failing mortgage giants Freddie Mac and Fannie Mae.

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The two companies account for nearly half of the outstanding mortgages in the US, and have lost billions of dollars during the US housing crash. The most recent figures show about 9% of US homeowners were behind on their payments or faced repossession.

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This page contains a single entry by Nishikant published on September 7, 2008 10:52 PM.

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