The government has three plans to replace the two institutions; in any event, they probably won't be dissolved quickly, as this would create a shock in the mortgage market. Regardless, this will mean the private market will step into the mortgage business and getting a mortgage will be more expensive.
The first step to aiding our economy is to get those homes that are stuck in the foreclosure process to proceed.
Many seniors graduating from school already have a mortgage on their hands. I've spoken to several people who have student loans totaling over $150,000. Your best first step would be to start paying down on that student loan and start saving for a down payment.