Last update04:45:16 AM GMT
The level of lender foreclosures is increasing in recent months, and that has created an economic stimulus to the housing industry, in traditional and non-traditional methods in the pre-sale and pre-rental market. This stimulus may not be apparent to the general public, because most of these activities involve services are not sale related. Let me break down the basics and provide an overview for you.
The majority of banks have sold or given their mortgages to either Fannie Mae (FM1) or Freddie Mac (FM2), the US government. You may not know who owns your mortgage. To check to see if Fannie Mae owns your mortgage, click HERE . To check to see if Freddie Mac owns your mortgage, click HERE .
Regarding whether to foreclose or not, instead of the private sector ...
I always try to write the facts, and report on issues without any bias or affiliation. I avoid editorials, because they are more emotional than professional. But in this case, I'll make this exception. These are historic times, and I will share my humble, 2-cent solution to anyone who will listen (read).
How do we fix our economy? FIX HOUSING! I'll say it again, FIX HOUSING! Wait, let me say it louder, so you can all hear me, and they can hear me in Washington DC, FIX HOUSING!
When the solution is obvious, why is it the case so often that politicians dismiss or avoid it because of its simplicity? That's also obvious, they politic it, complicate it, and the simple solution becomes something so complicated it cannot be the solution after all.&nb...