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.
This could get you started to understanding whom it is that is in the propaganda business.
And also I give you another tidbit about Fannie Mae.
Fannie Mae sells their property thru an office known as Federal National Mortgage Association Disposition Center located in Texas.
It is fair to say they do billions of dollars worth of sales out of this office. Yet it is not a legally registered business with the Secretary Of State of Texas. But they are not the only arrogant ones.
Also Deutcshe Bank has an illegal trust that sells property in Ohio. The type of trust it claims to be is not allowed to hold real property. Yet it has foreclosed on and resold virtually thousands of properties.
What you must also realize is that there is an uncountable amount of titles of real estate that have been made dirty by the same group that perpetrated the biggest of financial fraud in US history.
And who will profit from this in the future ?
Lawyers and insurance companies for sure.
Lawyer fees to straighten out titles and extra premiums to insure them. So keep recommending people fork over money because the lawyers and insurance companies are some of the new entitlement groups in your reality.
First Freddie and Fannie then the Federal Reserve. Do you know who and what the Federal Reserve really is ?
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