Fannie and Freddie Can Prevent Foreclosures and Protect Taxpayers Through Principal Reduction

Washington, D.C.–(ENEWSPF)–March 29, 2012.  Today the Center for American Progress released a new report making the case for why the government-controlled mortgage giants Fannie Mae and Freddie Mac should embrace a targeted principal reduction strategy for deeply underwater borrowers. The report outlines how this is sound business practice and can improve the books of Fannie Mae and Freddie Mac—and the taxpayers supporting them—in the long run.