Tagged: Housing

Sen. Robert Casey, a Democrat from Pennsylvania, sent a list of questions about Freddie Mac's controversial trades to the mortgage giant's regulator, highlighting how much remains unknown even after a flurry of statements from the regulator.

Two senators who have taken the lead on legislation aimed to help homeowners refinance at historically low interest rates were blunt this morning about how concerned they are by the news NPR reported earlier this week that Freddie Mac "has placed multibillion-dollar bets against American homeowners being able to refinance to cheaper mortgages."

Since the U.S. housing bubble burst, many Americans have found themselves struggling to pay off mortgages that are worth more than their homes.

Now, imagine if those mortgages were in a foreign currency that has soared in value compared with the domestic currency — the one in which paychecks are issued.

As Hungary's currency plummets to record lows, this is exactly the plight of some 1 million Hungarians, who, during better financial times, took out mortgages and consumer loans in Swiss francs.