Fannie Mae, banks halt foreclosures for the holidays

There trying to appear caring, when in really there a just a wolf in sheeps clothing. Beware!!! They will start up again. I see where farmland here in Iowa is going cazy, recent sale in northwest part of the state borught in $20,000. per acre, Then you wonder why food prices are out of site and going up, theres the next bubble ready to brust. Remember the farm crises of the 80's And the S&L failtures.

I did read this. That is some good news at least people can not be worried about being kicked out during the holidays, which is maybe just drawing out the stress longer.

Every one forgets to blame the liberal policies of the federal government (read Barney Frank and Chris Dodd) that caused this problem in the first place! They said "You will finance the people we tell you to finance whether they can qualify or not or fannie and freddie will not insure your mortgages"!! Every one should own a home right? NO, WRONG!! Only if you can afford it!

The cost of food is largely driven by the cost of oil!! Drill here and drill now. Lots of jobs to be created. Get rid of the EPA. Create jobs in America. Oh, but if we do that we won't be creating victims and a spotted owl might get oil on its feathers. People need jobs in order to pay their mortgages!!

Many, many people got a loan when there income was the same as the mortgage payment. If I were a bank, I would take what ever action necessary to collateralize a loan that I was forced to make. (sell to wall street)

Anyway, just my opinion. There were and are crooks at banks and on Wall Street but I will take them(put them in jail when they break the law) over the federal government ANYTIME. Most are honest businessmen.

Remember all you REIs out there. When foreclosures are gone there will always be probates, divorces, job loss, need to move, want to downsize type sellers no matter the marketplace.

Finally, never buy something you can't afford and then speculate on its appreciation. Read A.R.M. There is some individual responsibility involved here for buying more house than you can afford.

Michael Mangham
MD Home Acquisitions LLC