June 2010 Fannie Mae announces blacklist for mortgage defaulters

Last week Fannie Mae announced its effort to strongarm the American consumers into NOT walking away from their mortgage. The threat of being blacklisted for 7 years AND being sued for the deficiency balance where State law allows, is a feeble attempt to scare people into not defaulting on their extremely underwater mortgage.

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[Cyrus992]

Please CAmeltdown, show more neighborhoods that are distressed!!

[californiameltdown]

@Cyrus992 Yes I will, believe me there's plenty more to film.

[fivequotes]

Such an informative vid. Hope to see more videos from you guys!

[silentsteve63]

its just the arm of our thug Government search and destroy American middle class.

[aprilrosemusic]

Fannie and Freddie can suck my dick at the same time

[jvolstad]

A curse on Fannie and Freddie. If you want to buy a house, the bank should carry the loan for 30-years.

[MAGNETGRUNT]

Yep, that's that's the way it usually works. Fanny May is 'absorbed' The gov now essentially owns all such housing. Some people will just have to go live in cardboard boxes, or maybe even just pieces of cardboard boxes.... Oooops, gotta go, the old lady has caught me on YouTube again. 

[homertalk]

Bankrupt all bank debts. USA is over thanks to a tyranical Government. Prepare for Global Governance and hide your guns

[Paetaor]

Great vids.

When the government gave the banks money it took the necessity to modify loans away.

They got paid, Why bother to re-write anything now?

[winner502]

@Cyrus992

ditto

[countryhorsefive]

You make a valid argument, in my opinion, but if the law did not enforce the mortgage contracts, banks would not make new loans, knowing they would not be enforced, so nobody would be able to buy a house unless they could pay cash in full. It's a catch 22 situation. Lending has fallen so much that the money supply has contracted, the way it did in the 1930s.