Fannie Mae is going on the offensive with so-called “strategic defaulters.” They are increasing the penalties and not allowing those home owners to get Fannie Mae backed mortgage for 7 years. I’m not sure how they are going to exactly figure out who is committing strategic default and who is just buried in their mortgage. The key thing here is they are not going to let this go away easily.
Real Estate. Economics. Business
> not allowing those home owners to get Fannie Mae backed mortgage for 7 years.
I hope Fannie and Freddie won’t be around another 7 years to waste taxpayer’s money. They screwed up and now want to stick it to the little guys. The big guys default on their mortgage when it makes business sense to them.