More Insight Into America's Mortgage Fraud

If you own a home and are wanting to sell it you may want to try to understand the problem of why you can't sell it.

The missing player in the multi-trillion dollar mortgage scam‏

The US government is shocked - shocked I tell you - 
by the chicanery which led to the meltdown of the 
real estate fiance marketing and the US economy. 
 
It shouldn't be. 
 
Both sides of the aisle greased the wheels starting
with now-New York governor Andrew Cuomo when
he was Billy Bob Clinton's HUD Secretary. 
 
But don't blame the Demo-craps for the whole mess.
Little Georgie Bush and the Rape-publicans took the
idea and pumped it up on steroids. 

 

Hijacking Fannie and Freddie

The fox (HUD) in charge of the chicken coop

Predictable disaster in the mortgage market
In the early 1990s, only 1 out of 200 real estate loans had a down payment of 3% or less and Fannie and Freddie bought none of them.

By 2003, 1 out of 7 were financed with 3% or less and in 2007, it was a mind-bending 1 in 2.5 - and Fannie and Freddie enabled this madness by financing them.

You didn't need to be a fortune teller to predict the residential real estate market was doomed with this kind of insane financing.

Unfortunately for the people who bought mortgage backed securities, no one told them or the changing standards and they were too busy to notice.

You see, there are too many other homes on the market now to make it fairly competitive.