In an oddly timed move, on Christmas Eve The Treasury announced what essentially amounts to a blank check for the potential bad debt of Fannie Mae and Freddie Mac. Prior, the Treasury had a $200 Billion (each) limit on bailing out the "insolvent" mortgage lenders. At the present time, the two, combined have drawn down a little over $110 billion of the approved $400 billion.
Makes you wonder about the stability and equity of the $6 trillion dollars of loans on their books, doesn't it? If there is almost $300 billion still to go under their "credit-line" but The Treasury lifts all limits...on Christmas Eve no less! That scares me a little bit...as a taxpayer, homeowner and real estate agent...
Re/Max Direct
Learn about Single Family FORECLOSURES in Palm Beach County
One of the secret weapons we employ to market our clients property
Sellers: here's another cutting-edge strategy we employ to generate more buyers for your property..
Click on the image
