Fannie and Freddie Receive a Blank Check; Fed Will End Mortgage Backed Securities in March 2010

December 29, 2009

Daily Real Estate Updates

sudler-sothebys-logo29 December 2009 ? On December 31, 2009 the US Treasury Department will stop purchasing mortgage backed securities. However, they will spend whatever it takes to keep Fannie Mae and Freddie Mac afloat. Fannie and Freddie have been given a blank check by the government. To date, American tax payer’s have spent over $111 billion to keep Fannie and Freddie open. On another note, the Fed will continue to purchase mortgage backed securities, capped at $1.25 trillion. This money is set to expire the end of March, 2010. If you have buyers on the fence, I would urge them to purchase before interest rates take a major hike next Spring.

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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

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