Attorney General Martha Coakley spoke at a press conference last year.
(Globe File Photo/2011)
AG urges principal forgiveness
Attorney General Martha Coakley spoke at a press conference last year.
(Globe File Photo/2011)
Massachusetts Attorney General Martha Coakley today said mortgage giants Freddie Mac and Fannie Mae should do more to stop “unnecessary foreclosures,” including by reducing loan principal for homeowners who are having difficulty making their monthly payments. In a letter to Edward DeMarco, acting director of the Federal Housing Finance Agency, which oversees the two semi-public lenders, Coakley urged him to promote principal forgiveness as a way to improve the housing market and the overall economy.
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