Senators say have deal on housing rescue bill

1. A stockholder-owned corporation chartered by Congress in 1970 to help supply funds to mortgage lenders such as commercial banks, mortgage bankers, savings institutions, and credit unions that in turn make funds available to homeowners and multifamily investors. Freddie Mac purchases mortgages from lenders and then packages the mortgages into guaranteed securities that are sold to investors. The firm's common stock trades as FRE on the New York Stock Exchange. Formerly called Federal Home Loan Mortgage Corporation.
2. A security that is issued by this corporation and is secured by pools of conventional home mortgages. Holders of Freddie Macs receive a share of the interest and principal payments made by the homeowners.

Does this help anyone except all those up the line? the person at the bottom pays for the loan three times...

Do the Standard and poor get the profit on foreclosures that the fund loaned to banks for loans? Or does the stockholder just get the loss?

Does this solve the sub prime lending practises? the banks have been getting bailed out...can someone break this down in advantage to the homeowner?

or would it be an advantage to the homeowners to give the homes back to the banks and find afforable housing that was supposed to be a part of redevelopment land grants...

It's all the redevelopement that pushed the prices sky high....

What is mortgage insurance for?

The homeowner pays it yet it's the homeowner who gets the jeapardy...

Real estate companies are going out of business right and left...

Guess Who wrote:

1. A stockholder-owned corporation chartered by Congress in 1970 to help supply funds to mortgage lenders such as commercial banks, mortgage bankers, savings institutions, and credit unions that in turn make funds available to homeowners and multifamily investors. Freddie Mac purchases mortgages from lenders and then packages the mortgages into guaranteed securities that are sold to investors. The firm's common stock trades as FRE on the New York Stock Exchange. Formerly called Federal Home Loan Mortgage Corporation.
2. A security that is issued by this corporation and is secured by pools of conventional home mortgages. Holders of Freddie Macs receive a share of the interest and principal payments made by the homeowners.

Sounds like quite a pile...

Any time senators say they have made a deal, I wonder how much the original proposal has changed, and what sort of pork spending it cost them.