Fannie Mae (FNMA)

[Donotunderstand]

mhill

well said

people forget or do not know that before FDR created the modern way of financing houses (banks selling mortgages and getting new money to lend again)

what we had were

FIVE YEAR BALOON LOANS

yes - not 15 but Five year loans --- often interest only but after five years all due again

a horrid horrible system and why few owned houses

we can not go back to that - as indeed its going backwards 70%

and by the way would hit every homeowner of a median priced home in their city by say a 25% reduction in sale value