Comments on: Will Fannie Mae and Freddie Mac Go Under?

By: Carol

Carol — Sat, 12 Jul 2008 01:28:51 +0000

I agree with both of you. My only statement is Bin Laden got what he wanted. He took down the US financially on Sept. 11th that started with the insurance companies having so many claims, the airlines getting crushed, the oil companies raising the oil prices, and now we have the mortgage meltdown and the people loosing there homes. Instead of blaming everyone and anyone, we need to look for a solution. All of us in this country need to start taking care of our own and fixing our problems.

By: gabrielle

gabrielle — Fri, 11 Jul 2008 00:54:44 +0000

I totally agree with Trish. We’ve been out there offering our services to foreclosure families for some time now and we’ve hit against many slammed doors from lenders in denial. Also some of us have state laws that are threatening us with ridiculous guidelines that set the minimum values we can buy these distressed properties at as being 82%. Sheeesh!. How can we make a dime doing that in a falling market? We need an incentive to buy these, which is the money, and the lenders and the institutions need us to bail them out. They need to be willing to open up the channels to allow the inflow of investor money. There are a lot more investors out there wanting to buy. And property acquisition still involves risk for the investors which is why they need to allow for more lucrative deals if they want to make it work as a win win.
Gabrielle

By: PATRICIA

PATRICIA — Thu, 10 Jul 2008 16:07:10 +0000

Hi Bryan,
The goverment just needs to move over and let the investors have at it to help clean up america the people need to help the people, Fannie Mac and Freddie Mac need to call apon invstors and create a open door so we can work with them also to get these people turned around and heading in the up direction.
Just a thought
trish

By: jason

jason — Thu, 10 Jul 2008 15:57:22 +0000

Thanks for the heads up. Looking at You Tubes’ videos of Ron Paul and his interviews re: the dollar,federal reserve,etc.it gives a interesting view.Yes,you are correct in pointing out that every dollar that the government spends OR guarantees is the taxpayers’
burden.Thanks for your work.

By: Lynda Pittman

Lynda Pittman — Thu, 10 Jul 2008 15:51:48 +0000

I do agree with much of what you say and yes, the government and lenders ARE the majority of the problem. However, I have been a mortgage broker for more than 19 years. I can remember when lenders started these "creative financing" programs and they became quite lucrative. It started a frenzy on Wallstreet and everyone lost their heads jumping in with more and more insane programs. Everyone could see the handwriting on the wall, but no one seemed to care, including the home buyers. There is just one part this no one ever seems to mention in all of this finger pointing. What about the people who took out all these insane deals. Sure I know there were some mortgage brokers out there reasuring them that this as a "great deal" for them, when in reality it wasn't. But does no one else think the people signing up for these programs have to accept some of the responsiblity? Yes, some were mislead, but not everyone was. Many went in with their eyes wide open. Don't you think people have an obligation to themselves to make sure they understand the terms of the largest investment most of them will make? There certainly was no shortage of resources out there. No one ever seems to talk about this. These programs would not have worked if people hadn't bought into them. Perhaps we need to take a little responsibility for our own actions as well. I'm certainly not trying beat up on the home buyers out there, but I do think they share a part in the responsibility for where this has all escalated. That's totally valid. My opinion is that if a home buyer signed the dotted line, then the problem and responsibility is theirs to deal with. However, the role of horrible financial policy from the government can't be overstated here. That's the root cause. -- Bryan Ellis