Leading up to the housing crash of 2008, many middle class Americans suffered the consequences of playing victim to predatory loaning, and now some elected government officials want to make the middle class take the fall again by winding down the GSE’s, Fannie Mae and Freddie Mac. Without Fannie and Freddie, many credit worthy Americans with sufficient income would pay more for, or not be able to access the 30 year mortgage loan at all. Considering a large proportion of Americans create most of their accumulative wealth through home ownership, getting rid of Fannie Mae and Freddie Mac would be a huge blow to an already shrinking middle class and devastating to the economy in general.
In order for the GSE’s to fulfill their very important role in the mortgage market, It’s necessary for Fannie Mae and Freddie Mac to be reformed and released.
Thank you.
Why is this important?
In the Fall of 2012, I became a home owner for the first time thanks to Fannie Mae. witnessing first hand the important role the GSE's play in creating and maintaining a healthy middle class and economy through home ownership, I invested the remaining of my savings into Fannie Mae.
