Thousands of borrowers to get mortgage payments reduced

http://money.cnn.com/2013/07/01/real_estate/mortgage-payments/

The Federal Housing Finance Agency (FHFA), which oversees Fannie and Freddie, won't say how many delinquent homeowners will receive the modifications, but the Mortgage Bankers Association reported in May that about 1.1 million borrowers are behind on their loans by three payments or more. Not all of those mortgage holders have Fannie or Freddie loans, however. ''