The next one is considered without much substance.   The Fed is advertising that if someone’s home is 25% below the homes initial value and it is a Fannie Mae or, Freddie Mac loan the lender is required to re make a loan for a 25% reduction in the original value.

 

  Most professional people looking at this program think that lenders can’t be forced to make a loan by reducing the home value by 25%.  Could it be that the politicians in Washington are trying to garner points even if their bills are not founded on sound judgments, as a forerunner to a tough presidential election?

           I don’t know about you but, I’m getting tired of ill thought out ideas that are costing a lot of money that we and our grandchildren will be saddled with for generations.

 Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Alltruckeehomes.com