...but I don't like the sound of this at all.
The democrats sound like they are going to get us on the hook permanently.
OK, if the value of houses goes down 50% doesn’t that mean that the value of the dollar has gone up a corresponding amount?
Fannie Mae & Freddie Mac: Too Big to Wind Down?
But not too big to replace the board with honest people.
The way I see it is; 50% loss SO WHAT!!! I am so underwater now that it would take an eternity to be able to find a buyer to give me what I owe. My mobility is gone, my equity is gone, but being in a fixed rate mortgage my payments cannot go up. As long as i don’t lose my job i can keep my home. My home is not an investment, it is a place for shelter. Too bad if the investors lose money, isn’t that the risk with investing?
I say wind them down and get rid of MERS while your at it.