At 2pm eastern, the Federal Housing Finance Agency is expected to announce a plethora of mortgage gifts to homeowners with Fannie Mae and Freddie Mac loans. This year, gifts will follow the increasingly popular "Reverse Santa" list (not to be confused with the "Double Lehman" formula) which provides relief in the form of federally mandated mortgage price fixing for those who have been caught on the Naughty Debtor list.
Don't worry. Be happy.
Fannie, Freddie Work on Mass Loan Modification Plan [The Wall Street Journal]
Posted by guest , Nov 11, 2008 10:40AM
Love it. Take all the risk and get rewarded for it. Take minimal risk and get nothing.
Posted by guest , Nov 11, 2008 10:40AM
first?
Posted by guest , Nov 11, 2008 10:42AM
first?
Posted by guest , Nov 11, 2008 10:44AM
i've got some student loans that could use some "modifying."
who do i have to screw (sallie mae?) to make this happen?
Posted by guest , Nov 11, 2008 10:44AM
Freddie Sanchez? Fannie Steamer?
Posted by guest , Nov 11, 2008 10:46AM
I hate poor people
Posted by VOL IS KING , Nov 11, 2008 10:48AM
good night morgan stanley
P.S. Erin Burnett is advertising her high end prostitution service again on CNBC the boy friend must not be looking at a big boni this year.
Posted by guest , Nov 11, 2008 11:00AM
Hope now is complete crap. They have completed a whopping 50 loan modifications. It is just another hack organization filled with hack staffers who do nothing.
@7 What kind of rates do you think EB would go for these days?
Posted by guest , Nov 11, 2008 11:00AM
Poor and In Debt is the new Black this season.........thanks Obama!!
Posted by guest , Nov 11, 2008 11:01AM
I think they should forgive all student loan balances also.
Posted by guest , Nov 11, 2008 11:02AM
#8 $1000 per hour if she get her mouth shut
$50 if she talked
Posted by guest , Nov 11, 2008 11:20AM
seriously, i'm underwater on my student loans (i'm not seeing the ROI that everyone else got, for the same education, from 2000-2004) and am wondering what the best course of action is?
if we all stop paying, do we get debt relief, too?
Posted by guest , Nov 11, 2008 11:24AM
@ 12
when you owe the bank a million you have a problem, when you owe the bank a billion the bank has a problem
stop paying, get help, live on the dole...seems to work for europe
Posted by guest , Nov 11, 2008 11:24AM
@12
Send your request (after Jan 20) to:
The Messiah
1600 Pennsylvania Ave.
Washington, D.C.
Alternatively, you can follow the yellow brick road to the land of D.C. and ask The Messiah personally. Just remember - don't make eye contact with The Messiah. You are not worthy of such interaction with him.
Oh, and wear red slippers.
Posted by guest , Nov 11, 2008 11:27AM
F the mortgage this year!....It's going to be a merry christmas for all!!! Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho!Ho! Hobama!
Posted by guest , Nov 11, 2008 11:31AM
Baby boomers inflating prices through insurance/loan products and sending our youth into debt in a massive 'redistribution of wealth' has finally come back to bite them where it hurts the most.
Whether it be education, medicine, home prices, etc., young consumers finally reached a 'debt threshold' that was unsustainable.
Unfortunately, I rent, take good care of my health, and pay on my loans, so it looks like I'm going to be paying for not only old people but irresponsible young people as well. Why try anymore?
Posted by guest , Nov 11, 2008 11:39AM
Work + Save = 0
Work + Play + Overspend = 0
Who is/was smarter here?
Posted by guest , Nov 11, 2008 11:46AM
@16, you ain't alone...this sux!
Posted by guest , Nov 11, 2008 11:46AM
#16 - John Galt is that you? Get back to work, we need your production.
Posted by guest , Nov 11, 2008 12:01PM
uh... wheres my renters bailout?
Posted by guest , Nov 11, 2008 12:05PM
Well, if Citi aka Govt wants to rescue home owners by lowering the amount of outstanding loans, etc; they should also include terms that any upside on the homes after 4-5 years, the banks and the government should be refunded for their losses first and homeowner can take whatever profit is left over. For example, reduce loans on a 200K mortgage to 150K on a 190K valued home (valued at 270K at the peak). But if the 5 years, the prices bounce back to say 220K, the bank should get back its money;ie 50K.
Posted by guest , Nov 11, 2008 12:05PM
I need more Trish. Why isn't she on longer?????
Posted by guest , Nov 11, 2008 1:00PM
@5
Funny shit!! I'm surprised more readers' minds didn't go straight to the gutter with you. I hear "reverse santa" and my mind goes to all sorts of awful and embarrassing places.
Posted by guest , Nov 11, 2008 1:00PM
Does anyone know if there are consequences to getting bailed out on your home loan? Such as 300 or so points knocked off your FICO?
I would have to imagine that there be some consequence for being irresponsible.
Posted by guest , Nov 11, 2008 2:36PM
@24
HA! You must be kidding! Consequences for being irresponsible?!?!? Didn't you get the memo? This whole fiasco wasn't caused by irresponsibility. It was caused by greedy predatory lenders taking advantage of poor, innocent, naive lambs who had no idea they were being taken advantage of.
Posted by guest , Nov 11, 2008 3:36PM
..with electrolytes