I will tell you why. Private investors, with good reason stopped buying mortgage backed securities years ago because of huge losses that they could not sustain. Freddie and Fannie are the only ones buying mortgages and even with a monopoly (duopoly) they still managed to lose billions. At least as a tax payer you have the comfort of knowing that you are subsidizing your own mortgage.
posted on 05/11/2010 6:38:34 PM PDT
(Oppose 0bama at every opportunity)
Why did Citi not want the interest? They think everyone is a deadbeat. Heck I would work 3 jobs if needed to keep my home. Of coarse I will not have to do that. I feel Citi is a whore for servicing my loan and Freddie is the pimp.
posted on 05/11/2010 6:50:10 PM PDT
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