Forgiving mortgage loans would save taxpayers’ money, Fannie Mae says

Filed under: AM Roundup |

Officials at Fannie Mae wanted to reduce principal payments for homeowners in 2009 and believed they would save taxpayer money, according to the Christian Science Monitor.

Internal documents show that the  pilot program set to start in 2010 was abruptly canceled.

Lawmakers now are saying that the failure to introduce principal-reductions was a missed opportunity based on ideological differences, not data and analysis.

Read more at the Christian Science Monitor.