mister d

Freddie Mac CEO: Home Price Drops Only 1/3 Done

the facts are that the real loans made in distressed neighborhoods had nothing to do with this failing. bad loans to illegal property flippers in these neighborhoods represent a large portion of these loans making it appear that these neighborhoods are to blame. The disgusting fact is that these flippers knew of these programs, actually designed to improve distressed neighborhoods, would be beneficial to them if they utilized mainly minority straw buyers for their illegal transfers on the back end of their flips. The fact that fannie, freddie and all of the major lenders are not currently unloading their bad loans via foreclosure is more frightening. At first i believe these loans were not unloaded to make the companies balance sheet look better to the public and the compensation commitees of their organizations. It is obvious to me know that the reason for not unloading these assets may be something more sinister. I sincerely hope i am wrong but my theory is that these geniuses mat have assigned these mortgages to more than one person creating title problems. Numerous courts have dismissed foreclosure preceeding because the institution filing the compliant to foreclose cannot come up with the actual mortgage. This is only a theory but it is somewhat supprted by the fact that none of the recovery plans proposed ever mentioned the posibility of unwinding these intruments. Why is it so important that these intruments be saved as a whole? I beleive to cover up the fact that they were inproperly placed, rated etc. as a whole and the bailout that is currently in the works only serevs to protect the guilt and hide their illegal activities.