From Yahoo Finance.: 2024-05-03 20:04:05

A housing proposal could unlock nearly $1 trillion for homeowners, with Freddie Mac potentially purchasing secondary mortgages to offer a cost-effective way to tap equity. This move could inject a huge stimulus into the economy without adding to the national deficit, benefiting older Americans and those looking to access their home equity. If approved, Freddie Mac’s entry into the market could lead to $980 billion of home equity financing becoming available, with that number growing to $3 trillion if Fannie Mae and Ginnie Mae follow suit, per the Financial Times. This plan could provide a lifeline for homeowners, especially as options for tapping equity are limited.



Read more at Yahoo Finance.: The US could give homeowners a $980 billion stimulus at no additional cost, ‘Oracle of Wall Street’ says