These are all the Blogs posted on Tuesday, 10 April, 2012.
You Own More Homes Than You Think
That's right, whether you own the home you live in or now, if you are a US taxpayer, you own over 200,000 foreclosed homes courtesy of Fannie Mae and Freddie Mac. And while you already paid for their ridiculous decisions to pay their managers millions and make home loans to just about anyone that asked, you now get to pay for those homes being vacant under foreclosure.
What does that mean? It means that while you may not be able to afford to fix your own leaky roof due to the economy, you get to pay to mow lawns, fix roofs, paint, tear out and replace carpet, etc.
Taxpayers have paid more than $124 million to bail out Fannie Mae and Freddie Mac and now get to fork over $40 million to mow lawns and make repairs on foreclosed homes held by Fannie and Freddie.
Now if and when (and it won't happen in the near future) Freddie and Fannie begin to make money selling these homes, do you think they will pay back the taxpayers; or is it far more probable that they will hand over big bonuses to their managers?
Posted By P.Brown at 1:04 PM in Category:Life
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