Fannie Mae posts $14.8 Billion net loss

In a Wall Street Journal article "Fannie Seeks $10.7 Billion From Treasury After Big Loss" written by Nick Timiraos, he says Fannie posted a $14.8 Billion loss and needs $10.7 Billion for the US Treasury. The loss is due to rising unemployment and more prime borrowers defaulting on their loans. See the story here http://online.wsj.com/article/SB124960826802413197.html

The treasury has already pledged to provide as much as $400 Billion to keep Fanie Mae and Freddie Mac going. We have yet to see how the Obama administration will ultimately determine how the two companies will be run and/or divided or privatized or nationalized. Fannie Mae and Freddie Mac are the two largest buyers of mortgages on the secondary mortgage market.

If you are considering to purchase a home and looking for a lender to purchase real estate in arizona, please contact Marie Zubkoff 480.233.7051 or Andrew Walsh 602.527.2639 for a referral. We can also keep you away from brokers who were relying on the Taylor Bean who has recently ceased operations. Visit and send us a message at http://yourgilberthome.com/

Making Home Affordable

Are attempting to see if you can refinance your home or do a mortgage modification under the Making Home Affordable Program? Please visit this website to help http://www.makinghomeaffordable.gov/ First you will need to verify your loan is owned by Freddie Mac. You can do this here http://www.freddiemac.com/corporate/ and click on the link on the lefthand side. If you have any questions regarding either of these programs, please call us immediately.