Comments on: Fed Bailout of Freddie and Fannie For Foreign Investors or American Citizens? http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/ Real Estate Blog, Mortgage, and Development News Fri, 20 Nov 2009 23:48:48 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Matt Mason : Fed Bailout of Freddie and Fannie http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/comment-page-1/#comment-277267 Matt Mason : Fed Bailout of Freddie and Fannie Tue, 14 Oct 2008 19:43:06 +0000 http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/#comment-277267 [...] Fed Bailout of Freddie and Fannie For Foreign Investors or American Citizens?September 10th, 2008 • [...] [...] Fed Bailout of Freddie and Fannie For Foreign Investors or American Citizens?September 10th, 2008 • [...]

]]> By: brabra http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/comment-page-1/#comment-271658 brabra Thu, 09 Oct 2008 02:29:32 +0000 http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/#comment-271658 With websites like www.fakepaycheckstub.com ( a program that creates fake paycheck stubs ) where people can falsify income and use this info to get a loan, i wouldnt take any banks word at being AAA they are all junk because i know EVERY bank has had at least one fraudelent deal go through their books! With websites like http://www.fakepaycheckstub.com ( a program that creates fake paycheck stubs ) where people can falsify income and use this info to get a loan, i wouldnt take any banks word at being AAA they are all junk because i know EVERY bank has had at least one fraudelent deal go through their books!

]]> By: Leonard Pearson http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/comment-page-1/#comment-259769 Leonard Pearson Thu, 18 Sep 2008 04:45:03 +0000 http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/#comment-259769 We stand behind them, but this is what they do to some of us. I bought my house, put 20% down, and didn’t pull the equity out and buy toys. But when I suffered an injury and had to have two surgeries, I asked my bank to defer some payments to the back end of the loan, because my short term disability wasn’t enough to cover all my bills. They told me no, they wouldn’t help me. At this point the market had dropped so much that my $50,000 down payment, and the $15,000 buffer, the amount under the appraised value that I purchased my house for, were gone. Why would they assist me when they can be bailed out, and re-sell the property after they kick me out. Why make things easy for someone who bought the home in the traditional fashion, and only wants to pay it off in the traditional manner. It seems, the only easy part is buying a house when you should never qualify for it, or being the bank that practices bad lending techniques, and waiting for Uncle Sam to bail you out. I’ve lost my equity, my temper, and my patience, now I’m about to lose my home because there is nobody telling the banks that they need to do all they can to FIX the problem, there’s just the welfare line for them that seems to work like other welfare lines, taking care of those that refuse to take care of themselves. It’s funny, if I knew that I would still end up paying for a house I don’t own, I would have bought a bigger one with a pool. We stand behind them, but this is what they do to some of us. I bought my house, put 20% down, and didn’t pull the equity out and buy toys. But when I suffered an injury and had to have two surgeries, I asked my bank to defer some payments to the back end of the loan, because my short term disability wasn’t enough to cover all my bills. They told me no, they wouldn’t help me. At this point the market had dropped so much that my $50,000 down payment, and the $15,000 buffer, the amount under the appraised value that I purchased my house for, were gone. Why would they assist me when they can be bailed out, and re-sell the property after they kick me out. Why make things easy for someone who bought the home in the traditional fashion, and only wants to pay it off in the traditional manner.
It seems, the only easy part is buying a house when you should never qualify for it, or being the bank that practices bad lending techniques, and waiting for Uncle Sam to bail you out.
I’ve lost my equity, my temper, and my patience, now I’m about to lose my home because there is nobody telling the banks that they need to do all they can to FIX the problem, there’s just the welfare line for them that seems to work like other welfare lines, taking care of those that refuse to take care of themselves.
It’s funny, if I knew that I would still end up paying for a house I don’t own, I would have bought a bigger one with a pool.

]]> By: Brad G http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/comment-page-1/#comment-258319 Brad G Sat, 13 Sep 2008 20:50:57 +0000 http://www.therealestatebloggers.com/2008/09/10/fed-bailout-of-freddie-and-fannie-for-foriegn-investors-or-american-citizens/#comment-258319 I wish Fannie Mae and Freddie Mac would go away. Government does not need to be bailing anybody out anymore. They need to let businesses fail. I wish Fannie Mae and Freddie Mac would go away. Government does not need to be bailing anybody out anymore. They need to let businesses fail.

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