One of Freddie Mac's restrictions blocks people who have a short sale in their past from refinancing for two to four years following the short sale.
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In West Palm Beach, Fla., homeowners lined up for the 2010 Neighborhood Assistance Corporation of America "Save the Dream" tour, hoping to restructure their mortgage loans.
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If Jay and Bonnie Silverstein were able to refinance their mortgage, they could save nearly $500 a month. "We're living paycheck to paycheck," Jay says.
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Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.
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In December, Freddie Mac CEO Charles Haldeman, FHFA acting Director Edward DeMarco and Fannie Mae CEO Michael Williams testified on Capitol Hill about the Federal Housing Finance Agency's performance.
Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.
But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.
Greek officials have been working with private lenders to try to reduce their debt-load. Meanwhile European Union officials are in Brussels today to deal with the debt crisis. Steve Inskeep talks to Zanny Minton Beddoes, an editor at "The Economist" magazine, for an update on how solving the problem is going.
Let's come closer to home now for the story of a man who's a model of consistency. UPS, the shipping company, has honored one of its drivers. The company says Ron Sowder has driven delivery trucks and tractor trailers at UPS for 50 years without being blamed for an accident. He has managed to stay safe while climbing into the cab more than 12,000 times and traveling more than four million miles.
Lately, he's been driving across Ohio, to Cincinnati and then to Louisville, Kentucky.
At the end of last week, an employee sent an email with a simple request: Please bring me a copy of the new directory. She accidentally copied every member of the legislature and all of their staff. The email went to some 4,000 people. Recipients then started to reply-all with many messages, and the system couldn't handle it.