Well depending on how you look at it the Fannie Mae and Freddy Mac government take over is either the end of the credit crisis or the beginning of the U.S. Government moving toward socialism.
I know a lot of you who read my blog think this stuff is BORING, but boring or not it is important. Who ever becomes president in 2009 will have to make a decision about how to handle this takeover of the mortgage giants. These two companies hold over 50% of the nation’s mortgages. There is an option for full nationalization of these companies giving the government control of these mortgages. I am a true capitalist at heart and I think the government should stay out of it and let the market solve it. It would be hard but I think best in the long run. All we are getting right now is a 15 month band-aid that will be harder to take off in 15 months.
So I am posting a news article and hoping you will read it:
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=arc1_32y8rcg
If you are still reading mortgage rates are down so if you know anyone that needs a mortgage or wants/needs to refinance help us out and have them call Jeff. They are projected to get to 5.5%.
I know a lot of you who read my blog think this stuff is BORING, but boring or not it is important. Who ever becomes president in 2009 will have to make a decision about how to handle this takeover of the mortgage giants. These two companies hold over 50% of the nation’s mortgages. There is an option for full nationalization of these companies giving the government control of these mortgages. I am a true capitalist at heart and I think the government should stay out of it and let the market solve it. It would be hard but I think best in the long run. All we are getting right now is a 15 month band-aid that will be harder to take off in 15 months.
So I am posting a news article and hoping you will read it:
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=arc1_32y8rcg
If you are still reading mortgage rates are down so if you know anyone that needs a mortgage or wants/needs to refinance help us out and have them call Jeff. They are projected to get to 5.5%.
1 comment:
I'm so glad that you are posting about this stuff. I too think it's important!! Also... Jared is in the middle of a job change now, but in the near future we are thinking of refinancing and buying some property. I will be sure to stay in touch about that.
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