Fannie Mae’s “HomeSaver Advance”

[Deal Hunter]

CRAZYYYYY!

It’s essentially getting people to add a revolving type credit debt to their already over leveraged lives – for what? To keep a house that’s underwater?

When secured loans go bad and a short sale or foreclosure must take place, at least the obligations are wiped out with the disposition of the property. This is the best outcome for borrowers who have a legitimate hardship.

With UNsecured loans, the obligation to pay that debt will follow you around for a very long time. In some states, the statute of limitations on debt collection for unsecured debt is 25 years!

HORRIBLE HORRIBLE HORRIBLE!

[patientlywaiting]

Did you guys read the Barrons article?

http://online.barrons.com/article/SB120493962895621231.html

using conservative default rates of 40% on its $133 billion subprime book, 12.5% on its $314 billion of Alt-A mortgages and 4% on its remaining $2 trillion of prime home mortgages, Fannie could well be facing cumulative credit losses of over $50 billion. That’s after assuming Fannie will realize recoveries of 60% on its subprime and Alt-A loans and 70% on its prime loans.

*

I believe the defaults rates will be much higher, especially on the prime mortgages — for sure higher than 4%

[patientlywaiting]

Did you guys read the Barrons article?

http://online.barrons.com/article/SB120493962895621231.html

using conservative default rates of 40% on its $133 billion subprime book, 12.5% on its $314 billion of Alt-A mortgages and 4% on its remaining $2 trillion of prime home mortgages, Fannie could well be facing cumulative credit losses of over $50 billion. That’s after assuming Fannie will realize recoveries of 60% on its subprime and Alt-A loans and 70% on its prime loans.

*

I believe the defaults rates will be much higher, especially on the prime mortgages — for sure higher than 4%

[patientlywaiting]

Did you guys read the Barrons article?

http://online.barrons.com/article/SB120493962895621231.html

using conservative default rates of 40% on its $133 billion subprime book, 12.5% on its $314 billion of Alt-A mortgages and 4% on its remaining $2 trillion of prime home mortgages, Fannie could well be facing cumulative credit losses of over $50 billion. That’s after assuming Fannie will realize recoveries of 60% on its subprime and Alt-A loans and 70% on its prime loans.

*

I believe the defaults rates will be much higher, especially on the prime mortgages — for sure higher than 4%

[patientlywaiting]

Did you guys read the Barrons article?

http://online.barrons.com/article/SB120493962895621231.html

using conservative default rates of 40% on its $133 billion subprime book, 12.5% on its $314 billion of Alt-A mortgages and 4% on its remaining $2 trillion of prime home mortgages, Fannie could well be facing cumulative credit losses of over $50 billion. That’s after assuming Fannie will realize recoveries of 60% on its subprime and Alt-A loans and 70% on its prime loans.

*

I believe the defaults rates will be much higher, especially on the prime mortgages — for sure higher than 4%

[patientlywaiting]

Did you guys read the Barrons article?

http://online.barrons.com/article/SB120493962895621231.html

using conservative default rates of 40% on its $133 billion subprime book, 12.5% on its $314 billion of Alt-A mortgages and 4% on its remaining $2 trillion of prime home mortgages, Fannie could well be facing cumulative credit losses of over $50 billion. That’s after assuming Fannie will realize recoveries of 60% on its subprime and Alt-A loans and 70% on its prime loans.

*

I believe the defaults rates will be much higher, especially on the prime mortgages — for sure higher than 4%

[SD Realtor]

Here are the details of the homesaver loans and other fha gems. Thank god for the taxpayers!!!

Selling Mortgage Loans on the Side of the Freeway: The Reckless Bailing out of the US Housing Market by Government Agencies.

SD Realtor

[SD Realtor]

Here are the details of the homesaver loans and other fha gems. Thank god for the taxpayers!!!

Selling Mortgage Loans on the Side of the Freeway: The Reckless Bailing out of the US Housing Market by Government Agencies.

SD Realtor

[SD Realtor]

Here are the details of the homesaver loans and other fha gems. Thank god for the taxpayers!!!

Selling Mortgage Loans on the Side of the Freeway: The Reckless Bailing out of the US Housing Market by Government Agencies.

SD Realtor

[SD Realtor]

Here are the details of the homesaver loans and other fha gems. Thank god for the taxpayers!!!

Selling Mortgage Loans on the Side of the Freeway: The Reckless Bailing out of the US Housing Market by Government Agencies.

SD Realtor

[SD Realtor]

Here are the details of the homesaver loans and other fha gems. Thank god for the taxpayers!!!

Selling Mortgage Loans on the Side of the Freeway: The Reckless Bailing out of the US Housing Market by Government Agencies.

SD Realtor

[Author]

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