Overland Park, Kansas (Reuters) - Leaders of foreclosures Obama administration greater caution and to explore options to increase the landlord at bay, if you do not take immediate review of the proposal for Fannie Mae and Freddie Mac, the Treasury Department \ ' s the official said construction Thursday.
Unable to perform Translation:invalid text\ N \ 're seeing a significant accumulation in the process of eviction, \ "said Michael Barr, secretary for financial institutions in an interview with Reuters. \ N \' re seeing a number of people who, given the state economy, the problems remain in their homes, \ "said Ms. Barr, the Treasury \ 's secretary for financial institutions. Unable to perform Translation:invalid textBarr, who met with U. S. Rep .. Dennis Moore, consumers and professionals in Kansas, said he's real estate market conditions have kept the \ 'absolutely essential \ "to the government of low mortgage rates and extend a loan modification program. Unable to perform Translation:invalid textHe wiped a proposal by the U.S. Mortgage Bankers Association for Housing, Fannie Mae and Freddie Mac have been several small, private companies, mortgage backed securities with a conversion issue state guarantees, it was not enough time to decide to make their future . Unable to perform Translation:invalid text\ "It 'important to think ahead, the GSE (Government Sponsored Enterprises) over time, but this is not something that we should now in the cycle of financial reform, we \' s like \" said Barr. Unable to perform Translation:invalid text\ "Right now, Fannie Mae and Freddie Mac is an absolutely essential role to play in ensuring that our housing market remains strong and stable financial crisis, \" he said. Unable to perform Translation:invalid textThe U.S. Treasury Department has placed both Fannie and Freddie in a protection with the new management a year ago, the markets lose confidence in their ability to withstand losses from subprime mortgages and others. The government has effectively declared an explicit guarantee of their debt and mortgage securities and pledged up to $ 400 billion of capital tax to support the budget. Unable to perform Translation:invalid textThe Treasury has relaxed the GSE \ "rules of refinancing, mortgage refinancing that something more than a house \ 's on the market at favorable prices, among other actions. Unable to perform Translation:invalid textSTUDY OPTIONS Unable to perform Translation:invalid textBarr said the government is considering a range of options to strengthen the housing market, but would give no details. Unable to perform Translation:invalid textHe did not say whether the government should receive a tax credit of 8,000 dollars and one for the sale of first home buyers, housing has increased, but continued to operate in November. Unable to perform Translation:invalid text\ N \ 'is always a watchful eye on a number of options to be sure that there was a way to stabilize housing prices by reducing the number of entries to keep mortgage rates low, \ "said Barr. Unable to perform Translation:invalid textOfficials have taken steps such as extending unemployment benefits are due later this year, helping the unemployed to prevent foreclosures and strengthen programs to increase loans to small businesses surveyed. Some of them could be undertaken by the Fund for unspent funds from the bank 700 billion U.S. rescue. Unable to perform Translation:invalid textThe U.S. Federal Reserve later this year is expected to gradually reduce its purchases of 1.25 billion U.S. dollars in mortgage securities at the end of the year and 300 billion dollars more than U.S. government bonds by the end October. The purchases were made keeping the interest rates for mortgages in the area to accommodate the low for most of this year. Unable to perform Translation:invalid textThe Treasury will also buy Fannie and Freddie mortgage-backed securities on a monthly basis. Continued ...
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