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Fannie, Freddie Consider Mortgage Write-Downs

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At www.npr.org

The two most powerful entities in the housing market--Fannie Mae and Freddie Mac--could be on the verge of a significant change regarding foreclosures. Both firms have concluded that giving homeowners a big break on their mortgages would make good financial sense in many cases. In these so-called principal write-downs, a portion of the loan is forgiven for someone who's having trouble paying. Many Democrats are pushing for this change. Most Republicans are against it.

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