Fannie, Freddie rescue won\'t end housing woes Bailout of Fannie and Freddie might lower mortgage rates but it\'s unlikely to lead to a quick turnaround for the troubled housing market. The government\'s takeover of Fannie Mae and Freddie Mac may save the battered real estate market from a complete meltdown. But financial experts say the bailout won\'t lead to a housing recovery just yet. Instead, some on Wall Street said the housing sector is in as tough shape today as it was before Sunday\'s rescue by the Treasury Department. What\'s more rising unemployment and increased job losses should add to the woes for lenders, brokers, builders and others tied to the housing sector. \"Now we have a recession,\'\" said Dean Baker, co-director of the Center for Economic and Policy Research.
Baker added that even with home prices declining at a rate not seen since the Great Depression, the housing bubble hasn\'t completely deflated yet. By no means is this a magic wand to rejuvenate the housing recession that has just entered its fourth year,\" said Rich Yamarone, director of economic research at Argus Research. Home owners in the behind in mortgage payments can can utilize foreclosure services to prevent frevent foreclosure and/or obtain a lower mortgage payment. www.sendmetheanswer.com has a money back guarantee and free analysis.