Fannie Mae Pushed Banks to Foreclose
By Todd A. Heywood, Michigan Messenger
17 August 11
Revelations called ‘disgusting,’ but not surprising.
Michigan leaders in the fight against the foreclosure crisis reacted strongly Sunday to revelations that mortgage giant Fannie Mae appears to have been pushing banks to foreclose on homeowners rather than continue negotiating loan modifications. Continue reading
WASHINGTON— Uncle Sam wants you — to rent a house from Uncle Sam.
The Obama administration said on Wednesday that it was soliciting ideas on how to turn the federal government’s inventory of foreclosed houses into rental properties that could be managed by private enterprises or sold in bulk.
The goal, the administration said, is to stabilize neighborhoods where large supplies of empty, foreclosed properties have hurt property values. In addition, the plan is an effort to clear the nation’s balance sheet of real estate holdings that, because they have been difficult to sell individually, have hung over the housing market and stunted sales of existing homes and new construction. Continue reading
Deadly Clear 