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DS News Webcast: Friday 4/15/2016

For seriously delinquent, underwater homeowners struggling through the murky aftermath of the financial crisis, help is on the way in the form of a gift from the Federal Housing Finance Agency. Fannie Mae and Freddie Mac will soon be required to offer principal reduction to certain seriously delinquent, underwater borrowers that are grappling with the after effects of the crisis.

The new offering, or the Principal Reduction Modification program, is designed to help struggling homeowners avoid foreclosure and stay in their homes, the FHFA stated. The modification program was approved under FHFA’s statutory authority in the Emergency Economic Stabilization Act of 2008 to quote implement a plan that seeks to maximize assistance for homeowners and minimize foreclosures close quote.

Investors with property loans issued before the housing crisis continue to see fewer defaults than those for owner-occupied properties, according to a report from Moody’s Investors Service. The credit ratings agency released research Tuesday that suggested the rates would persist well into 2017.

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

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