Why Does a Billionaire Want to Mess With Your Mortgage?

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 Find out what privatizing Fannie and Freddie might mean for rates, lending rules, and your next move. 

The housing market’s already been a rollercoaster these past few years, and now there’s another twist that could shake things up. Bill Ackman, the billionaire hedge fund manager who runs Pershing Square Capital Management, is pushing hard for something that might sound wonky but could hit your wallet: privatizing Fannie Mae and Freddie Mac, according to a recent report from TheStreet.

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