Senators Call For Freeze on Foreclosures
Various news agencies in the last several days have reported that four U.S. Senators have urged mortgage companies, Fannie Mae, and Freddie Mac to temporarily halt foreclosures on loans they hold.
The lawmakers advised the new chief executives and federal regulator now running Fannie Mae and Freddie Mac. The beleaguered companies, seized by the government a week ago, should help struggling borrowers attempting to keep their homes, to swap their mortgages for more affordable loans.
The senators, Democrats Charles Schumer of New York, Sherrod Brown of Ohio, Bob Casey of Pennsylvani...
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