Fannie Wants More Money

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Fannie Mae wants more money. You can sure tell Fannie Mae is a female! We all want more money lol! Just kiddin'!

They are saying Fannie Mae requires another $15.3 billion in bailout money from the federal government due to losses.

As you know Fannie Mae and Freddie Mac are the primary sources of mortgage funding in the United States. People being unable to keep up with their mortgage payments have taken their toll on the companies.

Continuing problems with Fannie Mae's mortgage portfolio are still straining its finances. Some 5.38% of its single-family loans were more than 90 days delinquent, up from 2.42% a year earlier.
Total nonperforming loans were $216.5 billion at year-end, compared with $198.3 billion in the prior quarter and $119.2 billion in the prior year-end.

cnnmoney

We are already so far in debt I really don't see how we can shell out that much more. It is you and I who have to pay for it and I am mnot willing to do so. I really feel terrible for those who can't make their mortgage payments. It's an aweful thing. But if I end up having to pay higher taxes because of this I will end up not being able to afford my house and thats not fair!