40 Years In The Desert: Fannie Mae Has $5 Billion Overhang in Unsold Foreclosures

24 July 2008

Fannie Mae Has $5 Billion Overhang in Unsold Foreclosures

And the number is getting bigger, because they are picking up homes twice as fast as they are selling them.

On a related note, it appears that you can pick up a 3br in Flint, MI for $5,000 (the number of zeros are correct)...That's a depressed community.

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Matthew Saroff, Mechanical Engineer, Owings Mills, Maryland, US

I reserve the right to reprint any email correspondence on my blog.

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A member of the Democratic wing of the Democratic party, and a fan of Bernie who thinks Neoliberal (DLC/New Dem) trickle down conomics sucks.

Mechanical Engineer with a background in defense, electronics packaging, medical & food equipment, transportation, and manufacturing.

In my spare time (Hah!), I am the developer of the Firefox addon, bbCode for Web Extensions (bbCodeWebEx).

I have two cats, a black cat, and a gray and white long hair cat, who keep me on my toes. (Because he keeps attacking my feet)

I am a Jew and a Zionist, who is married to a woman with exquisitely bad taste in men, and I have two remarkable children with her.

What is 40 Years in the Desert?

This blog is a place to put my stream of consciousness thoughts about life, politics, technology, and cats.

It's a posting ground for my more-or-less annual personal newsletter, 40 Years in the Desert.(PDF's available at link)

I find that if I wait until year's end I miss stuff from earlier in the year.

40 Years is put out the old fashioned way, it's printed out on ledger sized paper with 4 pages and mailed to people, total circulation of about 100.

I'm just not the holiday card kind of guy. A warning, if you comment here, I may use it in my paper publication.

You will get credit, and if I can get your postal adress, you will get at least the issue where you are quoted (probably a lot more, I rarely trim my list).

If someone actually wants to pay for an issue...I don't know, I guess a buck, but you can get the PDF's free.

I intend to post at least a couple of times a week,

40 Years In The Desert

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24 July 2008

Fannie Mae Has $5 Billion Overhang in Unsold Foreclosures

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