Fannie Mae and Freddie Mac have come under considerable scrutiny in the recent past and continueto be under the microscope. Many people including myself believe that these two organizations havebeen arguably the largest contributor to the current housing “crisis”. Recently the President and hisadministration decided they would address these two organizations. There were measure taken tostart scaling down the amount of loans written by both Fannie and Freddie. The plan would essentiallyeliminate the need for both organizations within 10 years. There are many options being discussedas to the best way to eliminate these companies, but rest assured their mistakes will prove to be theirdemise.
These two organizations were formed to help stabilize the housing economy. Behind some poordecisions over the years and the recent downturn in the economy, their losses have been aided by thegovernment to a tune of nearly 150 billion and counting (Freddie has requested in upwards of 10 billionafter a first quarter loss of 10.5 Billion).
While there have been many mistakes that have caused the economic downturn, the solutions to thehousing problem has constantly been hit with more government money. However the solutions to ourhousing problems are not going to be fixed strictly by throwing money. I am in no way suggesting that Ihave the answers to this problem. However there are many people who are facing either foreclosures,hardships, or have just seen their house’s value take a free fall. These people want some kind ofsolution and many of them are finding their lenders offer little hope. Some of the resolutions outthere call for a lender to restructure your loan to the current market value. This is actually an excellentsolution to a major problem many homeowners face. However because of the major losses mentionedabove, both Fannie and Freddie refuse to allow a borrower to restructure and bring the value of the loandown. Here is more information about this issue http://money.cnn.com/2010/05/14/news/economy/fannie_freddie_principal_reduction/index.htm. This housing downturn can be fixed. There are peopleout there trying to help. If you are in the process of facing a tough decision on your home and no longercan afford to pay your mortgage, please fill out or form and we can help. We have helped many peoplewho are in your same situation.
Sam Fulkerson is the lead short sale agent on an elite STL Real Estate team that sold an astonishing 74 houses in 2012. Sam's team has been involved in over 150 short sales over the past 5 years, and Sam holds the prestigious SFR (short sale and foreclosure resource) designation. Sam's team is based out of St Louis, Missouri and the team has worked with just about every lender imagineable over the years on short sales and foreclosure prevention. Contact Sam today to get the professional help that you need by filling out the contact form on STLForeclosureExpert.com.
