Uncle Sam, Freddie Mac & Fannie Mae: Three’s Company or Three’s a Crowd?

As of this past Sunday, the US Government, in the nation’s largest financial bailout, has decided to take control of Freddie Mac & Fannie Mae, which collectively control more than half of the nation’s $12 trillion in outstanding home mortgages.   This news has already made it more affordable to borrow money to buy homes.  According to Bankrate.com the 30-year fixed rate dropped by .18% on Monday after the announcement.  But this decision does not make it easier for homebuyers to obtain a loan, which still may be the biggest issue of all.