By Alan Farnham
Read more: http://news.yahoo.com/freddie-mac-betting-against-homeowners-175445595--abc-news.html
Is Freddie Mac trying to help homeowners-or hurt them?
A recent investigation into trades made by the taxpayer-owned mortgage giant shows that while Freddie with one hand is helping consumers get mortgages, it is, with its other, making those mortgages harder to refinance. Result: Homeowners trying to refinance their way out of high-interest mortgages say they feel trapped in "financial jail."
The investigation-a joint effort between National Public Radio and ProPublica, an independent, non-profit investigative news service-looked at multibillion-dollar investments made late in 2010 by Freddie. These investments pay off only if homeowners remain locked in high-interest mortgages.
Read more: http://news.yahoo.com/freddie-mac-betting-against-homeowners-175445595--abc-news.html
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