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3 Bumps

Freddie Mac lost $2.5 billion last quarter..how much do you think we can let them lose before pulling their plug?

http://online.wsj.com/article/SB10001424052748703506904575592051567709086.html?mod=WSJ_hpp_sections_realestate

According to the article/report:
Mortgage delinquencies have eased slightly
Home prices fell an additional 1.8% last quarter
The recent delays in the foreclosure process is an unwelcome development
Freddie has received $134 billion in taxpayer funds over the last 2 years

 
yourspecialkid

Asked by yourspecialkid at 10:28 AM on Nov. 4, 2010 in Politics & Current Events

Level 35 (74,634 Credits)
This question is closed.
Answers (7)
  • Fannie is the same. I say we can afford NO more . They need to start finding a way to dismantle (not fix) F and F
    itsmesteph11

    Answer by itsmesteph11 at 10:35 AM on Nov. 4, 2010

  • Early Jan, and it will come to a screeching halt. And a wave of foreclosed homes will hit the market again. Get ready.
    jewjewbee

    Answer by jewjewbee at 10:42 AM on Nov. 4, 2010

  • Wasn't Barney Frank involved in this whole deal and he just got elected again?
    SophiaofLight

    Answer by SophiaofLight at 11:44 AM on Nov. 4, 2010

  • I agree with itsmesteph. The program is a money pit, much like my husband's sixty seven rustang. (SIC). I pulled the plug on that one, too.
    lovinangels

    Answer by lovinangels at 10:38 AM on Nov. 4, 2010

  • "We are anticipating a foreclosure glut that is likely to come up in next 16 to 18 months. We are trying to stay ahead of this," said Sanjiv Das, chief executive of CitiMortgage. These types of programs are "protecting house prices and consumer sentiment from going down further," he said.


    http://www.washingtonpost.com/wp-dyn/content/article/2010/03/11/AR2010031104866.html?sid=ST2010031004076


    March 2010

    jewjewbee

    Answer by jewjewbee at 11:54 AM on Nov. 4, 2010

  • yourspecialkid

    Comment by yourspecialkid (original poster) at 10:29 AM on Nov. 4, 2010

  • JJB is right...there will be a wave when the mortgages that have been delayed hit the market. I wonder how much that will drive down the cost of homes..

    It will be interesting to watch...the increasing number of foreclosed homes on the market...the coming rising of interest rates. I think the housin market may be down for decades...I hope I am wrong.
    yourspecialkid

    Comment by yourspecialkid (original poster) at 10:48 AM on Nov. 4, 2010