Fannie Gets Kicked – Freddie Mac Supersized

Fannie and Freddie have billions of dollars in bad loans with Fannie losing nearly 15 billion in the last 90 days.  Now the Treasury is being asked to fork over another 11 billion bucks in funding.

The administration is considering everything from total liquidation to nationalizing Fannie Mae.   High ranking economic officials in the administration were able to read about it after the morning paper bounced off their front door.  Sandpoint foreclosures are affected by nationwide initiatives.

Communication is better here in Sandpoint because Title Companies, Bankers, Sandpoint Realtors, and Investors are constantly examining Sandpoint foreclosures to find solutions.   Some planners today are turning their attention to Community Land Trusts.

Community and elected leaders get together and buy Sandpoint foreclosures.  The trust owns the land and a buyer owns the home.  The buyer does not have right, title or interest in the land.  The buyer gets the home for about 75% of its value.  The result is the community and the homeowner share equity.

Are there enough Sandpoint foreclosures to birth a program like this now?   One national study says that just one abandoned home on a street reduces the value of the neighbors’ property by $6,500 each.

Maybe it’s time to revive the community discussion before Sandpoint foreclosures force more and more of their neighbors into owning a home that is worth far less than what they owe.

Tags: sandpoint foreclosures