Why is Fannie Mae Buying Foreclosed Homes?

Did your bank foreclose your home?

Did your mortgage holder auction your house off?

Did you learn that the high-bidder, maybe the only bidder was Fannie Mae?

Is there a reason to believe, if the Fannie Mae, the government-sponsored enterprise (GSE), had not purchased your home, your bank would not have been able to sell your home and would be more motivated to work with you on a loan modification?

Doesn’t this constitute another, secret way of bailing out banks while giving them all the incentive to kick you out of your home?

This post is open for your comments. Please feel free to write about your experience if you went through an unsuccessful loan modification attempt and got foreclosed only to find out the government-sponsored enterprise Fannie Mae now owns your house and wants you out ASAP.