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Phillips Law Group provides you with some recent developments of. Fannie Mae had a $180 billion unpaid home loan principal balance in Florida. About 12 percent of the state’s Fannie Mae loans are delinquent.Friday’s report also noted that federal housing finance agency officials told the inspector general they were unaware of the 2006 report.
The Home Equity Theft Reporter: Recent South Florida Federal Mortgage Fraud Prosecutions Mortgage fraud also leads to other crimes, including identity theft and, as we see today, even more violent crimes, like arson. The success of the federal-state mortgage fraud strike Force in our crack-down on mortgage fraud is evident in the staggering number of prosecutions we have brought to date.
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Then the effective real interest rate that you are facing on your debt is not 5% but a whopping 20% (the sum of the 5% mortgage rate plus the 15% fall in the price of the underlying asset) that soon leads you into the depth of negative equity into your home.