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Piedmont Real Estate Blog

Piedmont Real Estate Blog

Blog by Julie Emery

Amissville, Virginia

An ongoing dialog on real estate news, opinion and trends in Northern Virginia and the greater Piedmont area. Julie is an Associate Broker at Century 21 New Millennium, 5451 Old Alexandria Turnpike, Warrenton, VA 20187

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Piedmont Real Estate Blog

George Soros Mortgage Reform Plan

Jan. 21, 2009

Categorized in: Mortgages

Tagged with: bonds, danish model, fannie mae, freddie mac, mortgage markets

George Soros has proposed a plan to clean up the mortgage markets, rescue the financial system and, theoretically, get money moving again.

The plan requires the elimination of Fannie Mae & Freddie Mac. It requires that banks hold much of the risk and do all of the servicing of their own mortgages.

And it would tie mortgages to bonds in a way that would keep a homeowner from ever deeply underwater on his mortgage.

This plan is based on a Danish model that's already up and working and seems to be functioning very well.

Take a look at the details for yourself. Do you think such a plan would work here? Is it worth a try?

I hope the Obama administration will take a closer look.

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