All Posts Tagged With: "Fannie Mae"

Due to the worst predatory lending epidemic ever, home ownership is now out of the reach of most Americans, and many of us who do own right now are being either forced to foreclose on our home or take whatever this new buyer’s market will give us for it (which is truly 2005 pennies on the 2008 dollar).

Where was the worst president in history at when all of this was going on, you ask? Well, he was right there watching it all happen, while his big-wig friends in the mortgage industry made a killing off of his constituents’ suffering. Even those making an above-average salary (average is now $42,028 per year) cannot truly afford to purchase something that was so easy to do just a few years ago. So what are we, as hard-working, country-loving citizens (who just happen to be Democrats, Republicans, Green Party Voters, etc.) supposed to do until Obama and Biden can come in and fix things (if you think the other party’s going to help, you’re kidding yourself)?

Rent, that’s what! In today’s market, this is the cheapest way to go for many reasons, and below are a few tips to keep your new landlord honest (note: they won’t work with a slum-lord, beware)! Continued

The bailout of America’s mortgage giants could have a profound impact on your personal finances.

Let’s face it. The economy is awful right now. It’s a mess that has taken a long time to reach critical mass, and it will take a while to get it all straightened out.

The mortgage giant bailout affects every homeowner seeking a mortgage. On the positive side, most analysts believe that Sunday’s takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed rate mortgage.

The government bailout’s goal is to make mortgages easier to obtain and afford. By reinforcing the mortgage financing giants, they can continue buying mortgages from lenders and thus inject much-needed cash into the system. Continued