(Source: MoneyWatch By Ilyce Glink) – Another instance of tax payer bailout dollars backfiring against the citizens of Main Street?The Detroit Free Press went live with a controversial story yesterday that appears to suggest that Federal mortgage giant Fannie Mae has been pushing banks to foreclose on homeowners rather than continue negotiating loan modifications.

The Detroit Free Press disclosed that it has received 2,300 internal records and memos from Fannie Mae. These documents include some incendiary language that could be interpreted as advocating for lenders to proceed to foreclosure sales rather than allow time for modifications to be finalized.

Source: MoneyWatch By Ilyce Glink

Aug 16, 2011

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