> >I am pretty sure 90% of those who lost their homes worked very hard for them >and got screwed and the full weight of the law must come down on the swindlers >who call themselves mortgage brokers and bankers.
wrong wrong wrong. a very high percentage of the houses being foreclosed are not HOMES. i'm pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a very divided family to need 4 "homes". this stuff belonged to either speculators, or to innocents that decided to take their money out of their original home and buy a bigger one, leaving behind a house/building. CA,NV, AZ, and FL has a very high percentage of this. nobody wants to talk about how many of the homes are spec owned. either fnm or fre have 20,000 (forgot which) tenant occupied houses that they are considering allowing tenant to stay. fre or fnm only have 50000 total foreclosed homes/houses in inventory. 90 % are not homes. another large pile of the fnm/fre houses were not or even never occupied. these are not homes. this is all spec investment. i spec invested in houses a long time ago. could not get more than one fnm/fre loan per house. ************************************************************************* ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *************************************************************************
