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Should we find a way to do away with Fannie and Freddie?

Fannie Mae and Freddie Mac, the mortgage-finance companies operating under U.S. conservatorship, may need as much as $363 billion in Treasury Department aid through 2013, the Federal Housing Finance Agency said.

This is a total waste of our money and there must be some way to totally dismantle them. I hope Republicans have this on their list.

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 6:27 PM on Oct. 21, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (14)
  • How would we find out if our home mortgages are owned by Freddie mac or fannie mae? And what would happen to our mortgage if it was owned by either of them?> They say that 90% of all mortgages are owned by them/ Would everyones' mortgages be worthless if they did away wth Freddie and Fannie? Hmmm? This scares me.
    kerp1960

    Answer by kerp1960 at 6:42 PM on Oct. 21, 2010

  • You can look at your mortgage papers. Way down at the bottom it most likely says one or the other. It may be in the body of the papers you signed also.
    As for what would happen to them? How about let other banks take on the mortgages? Many of them had them in the first place and sold to one or another. Bringing it into the public sector over a few years may well do the trick. Allow Joe the regular guy buy them as an investment. It's not for everyone but many people would do it. All those people who love flipping house would probably love to hold some mortgages. Obviously I don't have all the answers but it has to be done. They have to at least be made smaller and changed from the way they are now, losing money hand over fist.
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 6:56 PM on Oct. 21, 2010

  • Yes they should be allowed to fold. They are corrupt as hell and have been for years.
    Carpy

    Answer by Carpy at 8:30 PM on Oct. 21, 2010

  • YES... But the libs need Fannie and Freddie to survive.
    grlygrlz2

    Answer by grlygrlz2 at 9:33 PM on Oct. 21, 2010

  • YES... But the libs need Fannie and Freddie to survive.

    Answer by grlygrlz2 55 minutes ago

    ***********************
    WHY? AreLibs the only people who have mortgages on their homes???LOL.
    Explain....please.
    kerp1960

    Answer by kerp1960 at 10:31 PM on Oct. 21, 2010

  • YES... But the libs need Fannie and Freddie to survive.

    Answer by grlygrlz2 55 minutes ago

    ***********************
    WHY? AreLibs the only people who have mortgages on their homes???LOL.
    Explain....please.


    LOL....old habits do die hard! Right gertielindalu2 Who Now!


    Sorry OP....that just cracked me up!!!!!!!!! Yes they should be dismantled. It shouldn't be difficult to bundle and sell their GOOD mortgages.
    yourspecialkid

    Answer by yourspecialkid at 10:35 PM on Oct. 21, 2010

  • I'm all for getting rid of them. I have major issues with the government supporting big business. If they are sinking let them go.
    scout_mom

    Answer by scout_mom at 10:46 PM on Oct. 21, 2010

  • WHY do Libs...hehe...need Fannie Mae and Freddie,to survive? That was a wierd statement. EXPLAIN! This is the second time...why?
    kerp1960

    Answer by kerp1960 at 10:58 PM on Oct. 21, 2010

  • kerp-ie-lou, research the history behind Fannie and Freddie. Research the CRA. Research the money and protection from accountability MANY liberal politicians have given Fannie and Freddie..... Figure it out for yourself. Educate yourself... Then we can talk.. Till then, you are sounding naive...
    grlygrlz2

    Answer by grlygrlz2 at 11:02 PM on Oct. 21, 2010

  • kerp-ie-lou, research the history behind Fannie and Freddie. Research the CRA. Research the money and protection from accountability MANY liberal politicians have given Fannie and Freddie..... Figure it out for yourself. Educate yourself... Then we can talk.. Till then, you are sounding naive...

    Answer by grlygrlz2 4 minutes ago

    ---------------------------
    Whatever. I think you are wrong.....I think most Conservatives have no clue about the Economy. All you know is what Fox news has programmed you to believe. Good luck with that.
    kerp1960

    Answer by kerp1960 at 11:09 PM on Oct. 21, 2010

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