Tag Archives: Fannie Mae

Stupid trump tricks…

Well…if you are planning on buying a house soon, you’d better get it done before the idiot trump gets in office in January…in one of the things that repubs always want to do, they are floating the idea of privatizing Fannie Mae and Freddie Mac, the organizations that guarantees bonds that are used to make home loans that the government took a stake in during the great recession to keep the mortgage market from collapsing…and they want to remove the regulations that keep people from getting gouged when they buy a home…without those regulations, economists are already weighing in that it would add thousands of interest costs yearly to all 30 year mortgages that are taken out after these changes…and that is another attack on people in this country who are not rich and can barely afford a home as it is…and this will take another 50 million people out of the market…and it will cause a housing led recession that will suck trillions of dollars in equity out of real estate…so now we have another trump tax on all homeowners in this country…how do you feel now trumpers when the only place you’ve made money in the past decade is going to go away? Smart voters, huh?