Posted on 11/09/2009 6:41:54 AM PST by george76
Fannie Mae has announced that it is going to become a landlord. To avoid foreclosing, Fannie will allow some homeowners to rent.
It’s another gamble with our money. Just 6 years ago, Barney Frank said this about Fannie Mae and Freddie Mac:
We see entities that are fundamentally sound financially and withstand some of the disastrous scenarios. And even if there were a problem, the Federal Government doesn't bail them out.
Oops, this year Congress bailed them out with 100 billion of your tax dollars. And congress has promised Fannie and Freddie ... another $300 billion in guarantees.
Will the renters ever leave? I doubt it, given government’s track record.
After Hurricane Ike hit Texas, so FEMA promised “temporary” housing in trailers. .. Now, more than a year later, almost 2000 people live in free FEMA trailers.
FEMA even sent $17 million in rental assistance to families who were living in free FEMA trailers.
And while you could buy a trailer for $30,000, FEMA spends as much as $229,000.
We already have a huge public housing bureaucracy-- 3,200 different public housing authorities. Now the monstrous Fannie Mae is diving in.
Give me a break.
(Excerpt) Read more at stossel.blogs.foxbusiness.com ...
Just wait until the plumbing gets backed up! Who you gonna call?
Another thing to consider is that the feds don’t pay property taxes, so expect yours to go up even more as they prop up real estate values while taking parcels off the local tax rolls.
It is on record how well it worked out for the Jews after they sold their property to the Egyptians so they could feed their families. Can any of you say slavery?
LOL,
Wrong, Different situation.
These “civilian security forces” cops need to practice up on head shots.
Technically you are correct, Fannie Mae and Freddie Mac will have to pay property taxes. BUT.....they will be using tax payer money to pay them with.
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