Is the Government Looking to End Secured Mortgages?

According to a new policy paper the Obama Administration submitted to the Treasury Department just last week the answer may be yes.  Looking to privatize this and relieve the government - ie: taxpayer liability for mortgages gone bad.

Government back loans through Fannie Mae and Freddie Mac have long been a staple of the US real estate market and have helped many a homeowner get their first home.  To be sure the two were also closely tied to some of the worst abuses in the mortgage melt down of the last 5 years.

No matter which side of the issue you are on this is a BIG change in business as usual in the government back loan business.  Read the entire document outlining the administrations proposals.