RadioBDC Logo
Black Out Days | Phantogram Listen Live
THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Mass.AG: Mortgage giants should aid homeowners

February 3, 2012
Text size +
  • E-mail
  • E-mail this article

    Invalid E-mail address
    Invalid E-mail address

    Sending your article

    Your article has been sent.

BOSTON—Massachusetts Attorney General Martha Coakley is urging the government-affiliated mortgage giants Fannie Mae and Freddie Mac to agree to modify existing loans to help struggling homeowners.

In a letter Friday to the acting director of the Federal Housing Finance Agency, Coakley said the agency should also allow for principal forgiveness to help prevent foreclosures.

Coakley said adopting the changes could help stabilize the nation's housing market and give a boost to the wider economy.

Coakley said Fannie Mae and Freddie Mac should become leaders in the area of loan modification, not an obstruction.

Coakley's office has brought a number of legal actions against major banks and financial institutions -- including Countrywide, Morgan Stanley and Goldman Sachs -- which she said are aimed at keeping people in their homes.

  • E-mail
  • E-mail this article

    Invalid E-mail address
    Invalid E-mail address

    Sending your article

    Your article has been sent.