Relevant:
- (Saving...) Fannie Mae, Freddie Mac to go after more strategic defaulters
- Freddie Mac Has a Message for Strategic Defaulters? Yeah, Well I Have a Message for Freddie Mac.
- strategic default driven by future home prices, default costs
- Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strategic Defaulters
- Freddie and Fannie won't pay down your mortgage
2010-05-07 — wsj.com
Freddie Mac has a message for any homeowners who are thinking about are thinking about walking away from their homes even though they can afford to pay the mortgage: Please don’t do it.
The problem for mortgage investors like Freddie Mac is that most mortgages in the country are non-recourse loans. Borrowers can’t be held liable for the debt if they default.
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Comments:
mortgagemess at 08:01 2010-05-08 said:
The problem with Freddie is that their thoughts are going to the wrong parties..why don't you ask BANKS who you bailed out to take a cut off from the drowning homeowners mortgage balance... since 90% of them never used the bailout money to help homeowners, instead they used the interest from short term lending to refill the coffiers....why don't you ORDER the lenders to stop the bleeding and MAKE THEM do loan modifications across the board. Too bad investors, you took the RISK no one guaranteed you ANYTHING. I am not for giving a handout, but how do you expect the market to correct itself when neighbor A gets foreclosed and you sell that house for 200K less than the note and then neighbor B says screw this.. guess what he does..and then guess what the neighbor C says...and so on.. Next go tell Obama, his adminstration, Congress, and so on to grow some BIG ONES. Enough bowing down to lobbyists... Finally, stop tell Americans what to do. You lost all respect after we watch day after day of Americans who have lost jobs, lost their homes, lost everything, while the Harward Mafia has raped America and continues to do so with bonuses not earned but given. Freddie..You can stick your thoughts... Permalinkadd a comment | go to forum thread
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