No family should have to give up their home during this holiday season

Those magnanimous folks at Fannie Mae, Freddie Mac and several other large  mortgage lenders have pledged not to foreclose on delinquent borrowers during the Christmas season. What kind hearts they have!

You remember Freddie and Fannie, they’re the ones “We the People” gave $317,000,000,000  (that’s 317-billion dollars) of our hard earned money to so they could stay in “their home.”  Oh and the other banks include JPMorgan Chase, we gave Chase $94,700,000,000 (that’s 94.7-billion dollars), Welles Fargo $36,900,000,000 (that’s 36.9 billion dollars) and Bank of America $97,000,000,000 (that’s 97-billion dollars).

While people are getting evicted for not being able to pay their mortgage, these large banks along with Freddie and Fannie can take our money to keep them afloat.  Something is just not right in the land of the free and home of the brave.

Take a look at this eye opening PBS Special, “The true cost of the bank bailout.” It makes me sick to think “We the People” have actually given these rascals $12,800,000,000,000 (that’s $12.8 Trillion dollars) in bailout and loan guarantees.  A guarantee means if they can’t pay it, the government (We the People) will.  Has anyone had the government step in and pay off their mortgage because they couldn’t?

Here’s my simple solution: There are around 131,000,000 residential homes in America.  That $12.8 trillion equates to roughly $100,000 for each and every residential home.  It would have been better to pay off every mortgage and give those that owned their home free and clear the rest of the money and the problem would have been solved.  Instead our money goes into these rat-holes we call banks who then turn around and evict us from our homes which ends up screwing the real estate market causing the economy to stay in the crapper. Ay yi yi, my head hurts.

To quote Terry Edwards, an executive vice president for Fannie Mae. “No family should have to give up their home during this holiday season.”  I’d suggest we all send Terry a thank you email for being so kind to “We the People” over the Christmas season but I just can’t seem to find his email address anywhere on the Fannie Mae website.  Here’s his profile page though so at least you can put a face with the man that kept us in our homes, at least until after the holidays.  Merry Christmas to you and your family Terry!

Speak Your Mind

SEO Powered By SEOPressor