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Are refinance loans backed by freddie mac dangerous?
I am thinking of refinancing my home. I can drop 2 percentage points off my current loan. The only problem I have is that the new loan is related some how to freddie mac. Is refinancing my loan to a FM backed loan a potential danger in the future? Or do I have nothing to worry about?
3 Answers
- Anonymous1 decade agoFavorite Answer
As a borrower you have nothing to worry about. Also, the federal government has shown they will throw any amount of money into FM to keep it afloat.
- Anonymous1 decade ago
No do not worry about Freddie Mac, the now federal government owned bank.
Good Luck, Bob
- 1 decade ago
if you owe the money, you have no problem. think about it. if you borrow money and the company goes out of busness would you worry??
