Fannie Mae-No Politics (FNMA)

[KELLYCO]

You are wrong that only rich people would end up with real estate holdings.
Actually if Fannie and Freddie get liquidated it will be the lower income people that could byback their own mortgages at a discount instead of them being bundled in anonymous packages.
The homeowner could bid against the banks at auction on individual mortgages.
The homeowner could seek preapproval by a small local bank and also from the larger bank that originally set up mortgage.
Then let the bidding begin.
If the big bank wrote a fair mortgage to begin with then it should not be a problem to bid up to full amount.
But it is already known that these banks loaded down Fannie and Freddie with difficult loans to say the least.
Anyhow ,the big banks would get what they deserve if they have to pay the deficiency.

The study of cultural events is known as sociology.
And our culture is messed up in regards to real estate transaction knowledge and rights given thru statutes.