July 13, 2024

housing bustThe Wall Street Journal's Web site noted that it seems certain the Government may take over the nation's mortgage giants Fannie Mae and Freddie Mac this weekend.

Fannie Mae and Freddie Mac lost a combined $3.1 billion in the second quarter. But, just in the last two weeks both companies said they had enough resources to withstand the losses. Now, one must question these statements. 

Together these two mortgage giants hold about half the U.S. mortgages. This news, together with the grim falling home values makes me question why the major news media are still not using the correct terminology for this situation … HOUSING DEPRESSION.   Some of our prior popular posts on Fannie & Freddie were:

Stocks of Housing Giants Suffer Huge Losses

Summary of the “Housing and Economic Recovery Act of 2008

Real Estate – Jim Rogers says Fannie and Freddie are a ‘disaster’

Nation’s Mortgage Lender Records Loss of $2.2 BILLION +$1.1 BILLION Charge Off

Fannie Mae and Freddie Mac pump up to $200 billion into real estate market

 

4 thoughts on “Govt. Take Over Of Fannie Mae and Freddie Mac Could Cost Billions

  1. Pingback: www.buzzflash.net
  2. If you had bought a house 8 yrs ago, it’ll be worth a lot more today than what you would have paid for despite the housing mess. IMO, you lost out by not buying in 2000. But if you couldn’t afford year 2000 prices, then that’s a different story…

    SD Attorney

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