What’s the question? Read on.

The worst housing slump since the Great Depression is getting worse. Mortgage delinquencies are still going up. Credit is still getting tighter.

Fannie Mac owns or insures a quarter of all U.S. mortgages, and they saw credit losses go up 66 percent to $5.3 billion. Freddie Mac also had greater losses than analysts anticipated. The worst part is the companies aren’t prepared for what we’re heading into. This thing is going to get worse. and in the last year Fannie and Freddie stocks have plummeted over 85%.

So what are they going to do? Purchase fewer loans and increase mortgage guarantee fees, making mortgages more difficult to obtain just as the government is leaning on them to revive the housing market and keep the economy out of recession.

What can you do? Now is time to look carefully for ways to save and for ways to be more productive. Telecommuting is one method to do both.