Home Loan Aid Through Fannie Mae

Fannie Mae is the common name for the Federal National Mortgage Association, a stock holder owned organization that last year was put under the control of the government due to extreme liquidity issues. It is likely that they are the holder of the deed of your property and if thats the case you may be eligible for government relief.Fannie Mae was enacted by government charter in the’30’s during the Great Depression. Its purpose was to increase the home mortgage availability for low income families by securitizing mortgages. This was done to make sure that there was a stable supply of money for the companies responsible for giving mortgages to home buyers.In’68 the federal government changed the once public organization into a privately owned company under the control of a board of directors. As a government sponsored enterprise its existence has been criticized for its relationship to the government and semi public classification.In September of 2008 the collapse
in the US housing market forced the Federal Housing Finance Agency to place Fannie Mae under federal control. Once again the institution was under the control of the the government.It was estimated that at that time Fannie Mae and its sister corporation Freddie Mac guaranteed approximately one half of the US $12 trillion dollar real estate market. It had revenues of over $51 billion in 2008 and a total exceeding $880 billion in assets at the end of 2007.Because Fannie Mae’s business was all very closely tied up in domestic mortgages and property values the financial crisis was devastating for the organization. Its stability was weakened so much by the drop in home prices that the government was forced to step in.Many experts suspected that Fannie Mae and Freddie Mac were supported by the federal government and once those suspicions turned out to be correct the federal government assumed significant control with those institutions. That government influence is being utilized
to implement policies to assist distressed mortgage holders.If you are a homeowner with a loan owned by Fannie Mae you could be eligible for mortgage assistance.The author has many years of experience as a mortgage associate and knows how home owners can find foreclosure assistance, many times through government mortgage assistance programs

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