Monday, January 12, 2015

Fannie Mae Freddie mac: Truth needs to be known! Big banks,not Fannie Mae, killed housing in 2007!!




Do you know that Fannie Mae and Freddie Mac have Paid back $230 billion of the $187 they received?

Do you know if Fannie Mae and Freddie Mac get wound down the 30 year mortgage may be gone forever?

Do you know if Fannie Mae and Freddie Mac are eliminated, the US government intends to give the business to BIG BANKS? The same banks that almost destroyed America in 2007-2009?

Did you know Fannie Mae and Freddie Mac became the dumping ground for 'Big Bank Fraud' and the banks have paid $50 billion to Fannie and Freddie for the Banks Fraud?

Did you know Fannie Mae and Freddie Mac should have received over $250 billion from the banks for the true fraud they committed against Fannie Mae but the US government only took 10 cents on the dollar in its suits against banks? The same banks the US government wants to give housing over to NOW?

Do you know the Government has taken over Fannie Mae and Freddie Mac and are expropriating all the profits of the two and giving it to the Government? This would be typical of Russia or Nazi Germany, not what we would see in the USA, we have a constitution that should protect such action but the government is stepping all over that document and is TAKING 100% forever. Will your stocks and IRA be next? Could same thing happen to Apple or Exxon if tech or oil drops? It appears by the Government action the answer is yes!!

We should all be very worried for our futures in housing and the Government Taking of public companies for its own monetary gains!! Shame on the Politicians and Banks that have them in their pockets!!

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LETS EDUCATE THE GENERAL PUBLICsaid:
lease send this message to your contacts and ask them
to resend it as much as possible.
In the subject line write “The Ultimate Attack On Middle Class”
THE ULTIMATE ATTACK ON MIDDLE CLASS:
KILLING FANNIE MAE AND FREDDIE MAC
Not only the mortgage rates will go way up but
also it will be very hard to get a loan. You will pay
$1500 more per year on an average home loan of
$ 200K. That is an extra $45,000 in 30 years!!
SOME POLITICIANS ARE WORKING FOR THE
BIG BANKS!
These senators: Corker of TN , Warner of VA , and
Hensarling of TX , Crapo of ID are supporting a
bill in Congress that aims to wind down Fannie Mae
and Freddie Mac.
WHO ARE FANNIE AND FREDDIE?
Fannie and Freddie are government sponsored and
regulated corporations charged with the task of
buying the loans that your local banks lend to you.
In this way the banks free up their money and can
offer new credits to the community while keeping
the rates low.
WHO CREATED THIS COMPANIES AND WHAT FOR?
Fannie Mae was created in 1938 by Franklin Delano
Roosevelt in order to propel the housing market out
of the depression because the banks were reluctant to
lend their own money at their own risk on mortgages.
The same thing happens right now.
The big banks were bailed out by Government in the
recent crisis and were given hundred of billions .
However the banks used the bail out money for their
speculative investments rather than for loans to the
people.
WHAT HAPPENED DURING THE CRISIS?
Maybe you heard that these two companies were bailed
out by the government. The true is that the government
took over the companies and forced them to take 188
billions that they didn’t need. Instead the US Treasury
directed them to use the money to buy the toxic assets
of the big banks. It means that the government not only
lend money to the big banks but also helped them to get
rid of their bad assets using Fannie and Freddie as a trash
bin.
But the most important point is that in the last five years
only Fannie and Freddie have been supporting the housing
market by buying the mortgages originated by banks.
It happens because private investors flew away from
these genuine investments that create jobs.
.
WHAT DOES IT MEAN FOR YOU?
If Fannie and Freddie are wound down the mortgage
market will be left in the hands of the big banks. The credit
unions and local banks will depend on them.
The fees will go up. The interest rate will go up.
Several studies confirm that you will pay $ 1,500 more per
year in an average loan of $ 200K. That is $45K
in 30 years.
If you already have a mortgage your pain will come
at the time you want to sell your house because the
more expensive mortgages will keep prices down.
The entire housing market will collapse and millions
of jobs will be destroyed! Don’t let big banks control
your future. Think of your kids.
STAND FOR THE AMERICAN DREAM!
Call your congressman !
Send them an email saying that you want Fannie and
Freddie to stay.
Forward this email to your contacts because most of
the people is not aware of this issue.
Don’t Kill Home Ownership
Say NO to BIG BANKS
Keep Fannie Mae and Freddie Mac

1 comment:

  1. Gary, a typo or two and Jeb Hensarling (r-Tex) is a Congressman not a Senator (and also Chairman of the House Banking Committee) but you still achieve a "high 90" grade for your compilation

    ReplyDelete

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