Comments on: Fannie and Freddie’s Regulator Opposes Reducing Mortgages for Struggling Homeowners

By: Mimirayo

Mimirayo — Mon, 20 Dec 2010 22:58:14 +0000

This baffles me as I have seen in the land records transactions concerning a Fannie foreclosed property for which they sold for over 100,000.00 less…yes LESS than they purchased it for at foreclosure. How is that more fiscally responsible? I think if they did a principle reduction of half that, along with a modification both Fannie AND the homeowner would benefit in the long run.
I guess it comes down to numbers, there must be a tax or other benefit to foreclose and sell at a lesser price…and it needs to be changed!
Actions like these will NOT boost consumer confidence, but as long as their deeds are kept hidden, we are to be non the wiser.

By: Flex

Flex — Mon, 20 Dec 2010 01:34:25 +0000

I’m so sick of hearing about Fannie & Freddie. Here are a couple of fleas blood suckers who no only took part of the mess we are in for over 3 years, and now because the stupid US government pointed them out to be Government Agencies, they think they can said, do whatever they want, even write laws or proposal for the Real Estate and Loan Industry. Why are we putting up with this crap in first place? Why we don’t let them crumble and fall to nothing since they are already insolvent. If the government is pumping billion of dollars to sustain these cripple of Agencies. It is time we elect a government for the real people and by the people.
I couldn’t agree better with George and Cecilia on the comment above. The masses will take care of these fleas in no time. Too bad that many innocent people will pay a price with their lives when these things happens.
There is one major advantage for everyone to pursue a principle reduction on homeowners, specially those lenders, servicers, or even Fannie Mae & Freddie Mac, when they don’t have any evidence of owning the debt, the note, or the assignment of the note, or standing, they will be better off to issue a loan modification, because they will start all over again with a new set of terms, a new contract, making it legal and moving forward with this madness of foreclosure once and for all.
The people get to stay in their homes, creating a sense of stability, giving them confidence again to pay their mortgage from now on, in turn the investors will benefit, the economy will move forward, the government will have peace of mind and who knows maybe get re-elected, the lenders and servicers start getting pumping money again and we all live happy for ever after, like in La, la land.
Too bad that the ignorant Republicans did not agree to pass the SB 5010 proposed by Marcy Kaptur Rep (D) from Ohio, where she is asking to amend the TARP bill to help the homeowners losing their homes in foreclosure. Shame for those who did not vote and for those who voted nay, I hope they are very warm and cozy in their homes in front of their fire place right now. Hope Santa will come down their chimney early with lots of presents.
The best question here is, how the President let these agencies get away with his agenda and what is good for the people? Don’t you ever wonder if Obama was the right choice to be the President of the United States?

By: housemanrob

housemanrob — Mon, 20 Dec 2010 00:47:50 +0000

KREDDIE AND FANNIE ARE NOTHING BUT A GIGANTIC LANDFILL!! FIGURE THAT OUT AND WE CAN FORMULATE A PLAN. THEN WE CAN WATCH JOHN BOENER SHED SOME MORE CROCODILE TEARS ON THE HO– USE FLOOR!

By: Buyer

Buyer — Sun, 19 Dec 2010 19:37:46 +0000

So, while good for some, what is really accomplished by providing principle reductions “that targets borrowers who aren’t behind on their loans.”?

That would eliminate all current homes in foreclosure, and could possibly only state that future foreclosures may be prevented.

By: George Frederick& Cecilia Engle

George Frederick& Cecilia Engle — Sun, 19 Dec 2010 15:53:56 +0000

What is it with these people, don’t they realize they are pushing way to far, and as I don’t advocate, nor promote violence, I see a strong insurgence thus major pushing back…

So very unnecessary…

We get the token Maddoffs’s put away, but what about all others who perpetrated this horrible atrocity upon the economic world?

Guess it’s easer to nab a jay-walker or write a parking ticket…