The never ending saga continues for Fannie Mae and Freddie Mac! How long can we keep bailing them out? The Quote this time is: "Things will get better by 2012"? Some how, I find that hard to believe, when 7 million homes are currently in foreclosure with millions more sitting on the books of all the major financial institutions! The so called Bank Owned - "Shadow Inventory".
Mathews Realty Group
Amplify’d from www.bizjournals.com
National mortgage financing company Fannie Mae ended the second quarter with a negative net worth of $5.1 billion and posted a $2.9 billion loss as more loans on its books went bad.
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