What Fannie Mae & Freddie Mac Changes Could Mean for You

Another bill, called the "Protecting American Taxpayers and Homeowners (PATH) Act of 2013" passed the House Financial Services Committee late last month, though Senator Warner has stated that it's not likely to receive any Democratic support. The PATH Act would eliminate the government guarantee and could make it more difficult for the average American homebuyer to obtain a 30-year fixed-rate mortgage.

Congress is currently out on August recess, so don't expect legislative action on the subject until lawmakers return Sept. 10.

This work is the opinion of the columnist and in no way reflects the opinion of ABC News.

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