Secrets Banks and Lenders Don\'t Want You to Know/ Mortgage Free for Life!

Mortgage giants Fannie Mae or Freddie Mac may back 30 million mortgages. But that doesn’t mean that the new foreclosure prevention program announced this week by the Bush administration will rescue every troubled borrower on their books.

The Federal Housing Finance Agency (FHFA), which took control of Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) in September, together with Hope Now, the coalition of lenders, servicers, investors and community groups, designed the plan to help some of the most at-risk homeowners.