UN-FLIPPIN-BELIEVABLE

The CEO of Freddie Mac, Ed Haldeman, received a $2.3 million bonus, in addition to his $900,000 salary. Fannie Mae's CEO, Michael Williams, received a $2.37 million bonus.

"The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in taxpayer bailouts…" [my emphasis] In August of this year, Fannie Mae reported a second-quarter loss of$5.2 billion. In November, Freddie Mac reported a third-quarter loss of $4.4billion.

Read the complete story at... http://realtytimes.com/rtpages/20111108_occupy.htm

How can this be happening ???

Do YOU have Effective Negative Equity ??

What is ENE ?? (effective negative equity)

 'effective' negative equity,
is  when  borrowers/homeowners  who have so little equity in their homes, they cannot afford to move.


Consider the following from mortgage
analyst Mark Hanson:


On US totals, if you figure average house
prices use conforming loan balances, then a repeat buyer has to
have roughly 10% down to buy in addition to the 6% Realtor fee to
sell. Thus, the effective negative equity target would be 85%.
You also have to factor in secondary financing, which most
measures leave out.  Based on that, over 50% of all mortgaged
households in the US are effectively underwater — unable to
sell for enough to pay a Realtor and put a down payment on a new
purchase without coming out of pocket.
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Special thanks to:
 Chris McLaughlin, who is widely known as America’s top
Real Estate Attorney and Investment Consultant.