Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW
My Two Cents

I Don’t Get It

Chris Farrell May 12, 2008

I got an email press release the other day trumpeting, among other things, the following:

Fannie Mae will allow borrowers to refinance up to 120% of their home value if they are currently paying their mortgages on time.

‘This is a huge positive development for responsible homeowners who are faithfully making their payments, but simply find themselves in a negative equity situation due to declining real estate values,’….

Isn’t it deals like this that got so many homeowners in financial trouble. It’s a bad move.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.