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- A housing proposal could unlock nearly $1 trillion for homeowners, Meredith Whitney wrote for the FT.
- The idea is for Freddie Mac to start purchasing secondary mortgages, offering a cost-effective way for borrowers to tap equity.
- Homeowners face few options to do this, as there aren't many willing buyers.
An idea is percolating at one of America's government-sponsored mortgage finance giants that could unlock a huge new lifeline for homeowners, Meredith Whitney wrote for The Financial Times
"As early as this summer, a proposed move could begin to unleash almost $1tn into consumers' wallets. By the autumn, it could be on its way to $2tn," Whitney wrote.