bigmoneysalsa_IHB
New member
Is anyone else starting to get the feeling that it will soon be politically unfeasible for the federal government to foreclose on mortgages that it owns? Between the recent takeover of Fannie and Freddie and the likely upcoming establishment of some sort of federally controlled trust to buy up bad mortgage paper, this is going to be a lot of mortgages. Now I am an olde skool bubblehead, and think prices still have a long way to fall. But because of this possibility I am now toying with the idea of buying a home early next year and intentionally commiting early payment default. The idea goes something like this: I get a conforming loan, make enough payments to allow it to be sold off to Fannie or Freddie, then stop making payments and live rent free for at least a few years. Could this could really work? Is there anything I can do to insure that the mortage I get will definitely end up in the federal govt's hands? Or (and I hope this is the case), am I wrong about all this and they will somehow find a way to keep foreclosing on people?
