How are these for statistics:

Last year Freddie lost almost $26 BILLION. Over the last 3 years that total is approaching $80 Billion. Almost 4% of loans on their books are at least 3 Months behind. Between Freddie and Fannie last year, they backed almost 70% of the new mortgages.

Freddie Mac warned there is “significant uncertainty as to whether or when we will emerge” from government control. “We now have unlimited taxpayer exposure to the bailout of Fannie and Freddie, a bailout nation where the big get bigger, the small get smaller and the taxpayer gets poorer,” Rep. Jeb Hensarling, R-Texas, said at a House hearing Wednesday.

Charles Haldeman, Freddie’s CEO warned today of a “potential large wave of foreclosures” still to come.

At www.sellmyhouse.com, the number of phone calls we get daily from people afraid of losing their house has gone up, not down. We worry that after this Spring season is over and the Tax Credit is gone, and the massive wave of foreclosures hit the market, and the job market keeps getting worse, and the…. and the…..we’ll have to pay the piper. And the payee this time is the Government. We’ve just put of the inevitable for a few more years and made everybody feel like all is well. Of course everybody does not include main street America. We’ve been paying the piper the entire time…guess where the Government gets their money!

Hold on..it’s not over yet! Our investor network is going to have a tremendous few years.

www.SellMyHouse.com Staff Writter

fannie mae · Freddie Mac · housing market · sell my house