Posted on 09/11/2008 11:02:27 AM PDT by pabianice
Senators urge Fannie Mae and Freddie Mac not to foreclose on mortgages they hold and help borrowers stay in homes. WASHINGTON(AP) -- Senate Democrats are urging Fannie Mae and Freddie Mac to immediately freeze foreclosures on mortgages they hold.
The troubled home loan giants, seized by the government Sunday, should instead work to help struggling borrowers stay in their homes, four senators say in a letter to the firms' new chief executives and the regulator now controlling them. They're calling for a 90-day freeze on foreclosures.
Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) together hold or guarantee some $5 trillion in outstanding mortgages -- more than half the nation's total.
(Excerpt) Read more at money.cnn.com ...
How about a 90 day freeze on spending by the government? That would do more good................
What's theirs is theirs, and what's yours is theirs.
LOL...they could try to freeze hell over and it wouldn’t do em any good!
Or, how about a 90 day freeze on legislation coming out ot the House and Senate....oh wait, there is, 22 month freeze and counting.
They not only bought the debt for taxpayers. Now they want to let people live payment free for 3 months. I don’t want to see anyone lose their home but how will 3 months help them? If they can’t make the payment now how will that change in 3 months?
No offense to furniture salesmen.
If there was ever an example of too much useless government, Fannie and Freddie is it. Congress, with oversight, has failed miserably in properly supervising and “overseeing” the mortgage giant. Now, THEY’RE FULLY IN CHARGE OF IT - means taxpayers footing the bill. Amazing. A 90 day freeze of government spending would be a good start.
Quick go buy a house you can’t afford........
Offer will expire upon our election. Middle class tax break anyone?
More pandering to the lowest common denominator of society. A fundamental plank of the present-day Democrat party.
The Federalists were right about a true Democracy. Many of these people should not be allowed to vote.
Until we all live in government barracks working a communal farm, these maggot Liberals will not rest. They, of course, would be “party officials” and continue to live in mansions, funded by you and me.
typically you don’t get foreclosed on until already being 90 days behind.
The Dems are only doing this because the Pubs are trying to get voting cards from foreclosed properties disqualified...which makes sense since every abandoned house in Detroit and Philadelphia etc. will be casting a vote thanks to ACORN.
Where can I sign up, I want to quit paying my legally incurred debts too ...
Not if we burn them down. If you ask me, it's way past time.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.