Saturday, January 10, 2015

Please send this message to your contacts emails and ask them to resend it as many as possible

Please send this message to your contacts and ask them
to resend it as much as possible


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

No comments:

Post a Comment

leave a reply: