February 2, 2015

Fannie Mae And Freddie Mac May Help End Homelessness In America

By tjmcfee

Two organizations synonymous with the 2008 financial crisis could play vital roles in helping America’s most vulnerable residents get off the streets.

ThinkProgress reported that Fannie Mae and Freddie Mac — two government-backed mortgage companies whose buying and guaranteeing of risky mortgages contributed to the Great Recession — are now able to contribute to the National Housing Trust Fund.

The fund was created in 2008 to support affordable housing initiatives nationwide but had laid dormant until now, as the Federal Housing Finance Agency (FHFA) announced in December that “both [Fannie Mae and Freddie Mac] are financially fit” to contribute.

The two organizations were barred from setting aside money for the fund previously due to the financial crisis.

While the fund falls short of solving America’s shortage of affordable housing, it’s a welcome step advocates across the country have been waiting for, TakePart reported. The fund is expected to…

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About tjmcfee

Freelance writer. Activist on homeless issues. 48 years old. I write about subjects that need to be examined closely and thoughtfully. The idea for Brain Sections came from reading a book about abandoned asylums. I wanted to set a suspense story in that setting. The inclusion of crazed scientists turning homeless people into zombies is what makes the story unique. View all posts by tjmcfee

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