Monday, February 21, 2011

Taxpayers will ultimately pay back losses of nearly $400 billion due to foreclosures

"Fannie and Freddie losses are passed onto taxpayers," said Anthony Sanders, a former professor of real estate and finance at Arizona State University, now with Virginia's George Mason University.

Most foreclosures now are on loans that were issued by banks but backed by Fannie Mae and Freddie Mac. Created to boost U.S. homeownership, the Federal National Mortgage Association and the Federal Home Mortgage Corp. buy from banks and now own half of all mortgages.
 

"I understand why some people want to walk away, but we should all understand who ultimately pays the bill for foreclosures," said Amy Swaney, former president of the Arizona Mortgage Lenders Association and Arizona manager of Citywide Home Loans. "Most foreclosures end up costing us all."

Those federal entities' losses are expected to near $400 billion before the foreclosure crisis ends, many of those losses could end up hitting taxpayers. Big investors included government pension funds and other public agencies.

"If the federal government begins bailing out pension funds," Sanders said, "then the taxpayer pays for that, too."

Read more:http://www.kathleeninarizona.com/archive_details.php?arch=1049

Friday, February 4, 2011

Tune into HGTV House Hunters TODAY! Watch as I help a Maryland couple relocate to Anthem, AZ

Show Highlights:
http://www.kathleeninarizona.com/hgtv-c11568.html

"A Couple Relocates to Phoenix for a New Mid-Life AdventureJohn and Kim Bojonny are making a mid-life change and are relocating to Phoenix.
They are looking for a home with an open floor plan, three bedrooms, two bathrooms, large closets and lots of extra space. With a $350,000 budget, Kathleen Mazzocco, their realtor, is determined to find them exactly what they want".

About Kathleen Mazzocco

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Scottsdale, AZ, United States
Kathleen has worked with a variety of clients and employees from across and outside of the country, and this has given her a firm grasp of all the details that need to be considered when buying a home in Scottsdale, Anthem, or other areas of Phoenix, Arizona. Kathleen is a AZ Corporate Relocation Professional, and Buyer's Agent. She doesn't just help you find the home you want, she also insures that you're settling in well and that you have all the information you need in order to enjoy the highest-quality lifestyle Arizona has to offer. Begin your plan moving to Arizona with Kathleen today. It's a buyer's market right now, so there are great opportunities for you to land the home of your dreams for much less than you ever imagined possible. Acquiring property foreclosures, short sales, and bank owned homes are ways you can save in today's market. As Certified Distressed Professional she can negotiate the best possible price and terms for you. Please browse through Kathleen's website and let Kathleen Mazzocco help you come home to Arizona,search the newest home listings at www.KathleenInAZ.com.