01/28/2013 02:00 pm ET

Fannie, Freddie To Offer Some Homeowners Escape From Underwater Mortgages

Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money.

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