The realestate industry is forcing the issue of Fannie and Freddie to be allowed to take on bigger jumbo loans at the tax payer detriment. Yell and complain to your idiot congressman to stop this nonsense.
they are trying to prevent the collapse of the entire housing industry. so goes housing so goes our economy.
all a result of too much greedy lenders and too little regulation which can sink our economy.
when expensive home preices slide it will bring down all home prices, cutting tax revenue, and worse causing more folks to walk away from their homes. no use struggling to pay more than this home is worth....
its all bad all preventable, and as fueled by pure greed.
just like the credit card industry ,,,,,,,,,,,
giving more credit than people can possibly pay back.
look for the mortage industry to appeal to government to make foreclosure more difficult.......
thats what credit card industry did when default rate climbed.....
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