Defaulting Homeowners: Fannie Mae Gets Tough Finally

Fannie Mae is taking some strategic mortgage defaults’ to the wood shed and it’s probably about time. What’s next in this volatile market?

Defaulting homeowners are getting more than a slap on the wrist from Fannie Mae.

Fannie is taking them to the wood shed, so to speak and it is probably about time.

Borrowers who are walking away and could have paid the mortgage will be held accountable for their actions.

Punishment:  They won’t be able to get future insured mortgages.

Get tough politics? Common sense, if you’re asking.

However, another sticky point arises.  How can the government really determine who could have paid vs who didn’t?

It gets curiouser and curiouser as Alice would have said.

Read Fannie Mae get tough on ‘strategic mortgage defaults’

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