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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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PAY ATTENTION NOW, WE ARE VERY CLOSE TO DOOM: A Shortage of Bonds to Back Derivatives Bets
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Poster Handle
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Anonymous Coward |
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Post Content
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$40 billion per month in mortgage aquisitions and going after strategic defaulters with prison time. Link to article below. The Federal Housing Finance Administration (FHFA) recently announced that “strategic defaulters”, i.e. those homeowners who have abandoned their mortgage because they could not continue to make the monthly payments will be jailed for this “crime”.
The FHFA oversees Freddie and Fannie Mac, the mortgage corporation owned by the US government. The FHFA are focusing their efforts on criminally prosecuting all American citizens “who abuse the FHFA programs” by walking away from their foreclosure.
Statistically speaking, according to the FDIC:
1 out of 200 homes will be foreclosed upon
250,000 new households enter foreclosure every 3 months
6 out of 10 homeowners are delinquent on their mortgage
[ link to www.activistpost.com]
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