Moore Mortgage Solutions

    Yesterday, our Government seized control of Fannie Mae and Freddie Mac. The major reason for this bailout, the largest one ever in our history, was to support the housing market as well as to ward off financial turbulence on a global scale.

    Fannie and Freddie guarantees almost half of the country’s $12 trillion in outstanding home mortgage debt.

    In Henry Paulson’s (U.S. Treasury Secretary) press conference on Sunday, he stated, “Our economy and our markets will not recover until the bulk of this housing correction is behind us.” He continued to say that Fannie and Freddie’s solvency is critical to making that happen.

    The takeover of Fannie and Freddie has been what Wall Street has been hinting at for some time now. And it is hoped that this move will help the overall housing market to start to recover.

    This news is now filtering through the financial markets and will continue to do so over the next days and most likely weeks.

    So far this morning, the markets, both the stock and bond markets, are reacting favorably to this historic takeover.

    Please remember, our own housing market is still good. If you have concerns or questions about the housing market, please feel free to contact me.

    As always I am here to talk to you about your own home mortgage needs whether it be to qualify for a mortgage, to refinance your mortgage, or to buy up. Let’s together plan for your credit financial health future and wealth.

And please make every day an inspire one!

Betsy Moore

CMPS™

206-331-2749

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