Fannie Mae Cracking down on Foreclosures!!

Fannie Mae just announced that they are going to be cracking down on people who walk away from their mortgage!

They have threatened to sue people who foreclose on properties when they have the ability to pay and also have threatened that those people won’t be able to purchase another Fannie Mae backed home for 7 years!

Well, maybe if Fannie Mae would STOP FORECLOSING on people who have short sale packages in they would see that more and more people are interested in short selling homes rather than letting them goto foreclosure. This would not only net them more money (the average short sale nets a lender about $20/sq.ft more than a foreclosure!!) so they can quit crying about their losses but would also boost our sagging economy and terrible real estate market nationwide!

This organization has become so powerful that they cry and complain about the number of foreclosures and how much money they are losing when there are thousands of homeowners submitting them short sale packages every day and they are still foreclosing on these people…then they turn around and whine about all the foreclosures and stick their hand out for more of our tax money? Ridiculous…

Related posts:

1. Short sale approvals up…Fannie Mae foreclosures also up!
2. Fannie Mae looking for 2.5 Billion more…
3. Fannie Mae – Freddie Mac Bailout could cost $685 Billion…
4. Bank of America Halts ALL FORECLOSURES!!!
5. Fannie Mae needs 8.4 Billion dollars???