ECO-2013 Study Guide - Quiz Guide: Barney Frank, Earned Income Tax Credit
Document Summary
Chapter 14: who benefits from the actions of fannie and freddie, homeowner that use fannie and freddie benefit from the actions they pursue. Homeowners pay a lower interest rate, which is good for lower-income individuals: there are approximately 220 million taxpayers in the united states, at least as measured by the number of tax returns filed with the irs. taxpayers end up paying income taxes. (some of the others pay only social security or. Medicare taxes, while some actually receive payments, under the earned income tax. Explain: the fha has dramatically increased the amount of their lending. The low down payment is only 3. 5% of the value of the home, so the incentive is pretty high for the buyer because it"s cheap. If it ends up in default then the taxpayers will have to pay the full bill. Explain: congress authorized fannie mae to buy mortgages from virtually all lenders.
