Senator Menendez Criticizes Federal Housing Finance Agency’s Decision Not to Allow Principal Reduction for Homeowners

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By RealEstateRama -

WASHINGTON, DC – August 1, 2012 – (RealEstateRama) — Senator Robert Menendez, Chairman of the Housing Subcommittee of the Senate Banking Committee, today criticized FHFA’s decision not to allow principal reduction for struggling homeowners under any circumstances. Senator Menendez has led the call for FHFA to fix its flawed study on principal reduction, spearheading a letter from 30 Senators to Acting Director Edward DeMarco. Click here for a PDF of the letter and here for a press release on the letter.

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