What if you fell behind on your mortgage? Then by taking out a loan you were able to save your house and the lender made a profit off the loan. THEN, they came and took your home ANYWAY!
Why are we closing Fannie Mae, to help Banks, again. Housing needs the government to back residential loans. We have this faulting thinking about government agencies, “if it’s broke close and start another agency from the ground up.” Or, let businesses, in this case BANKS (hmm), control and regulate themselves and the industry. That sounds like what we’ve just been through – liberal banking, government intervention, start all over from the beginning.
Not only has Fannie Mae done its job, it’s paid it’s loan off with interest. The government MADE money. As was the case with the Auto industry. Let’s fix what’s broken, we’ve wasted enough time and money.