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The Fannie Mae announcement yesterday has been met with more questions and concerns than support. The idea that they will sue people who intentionally walk away from their mortgages when in fact they have the means to pay their bills is not well accepted in the publics eyes. People have big questions over the Fannie Mae announcement. How will they decide who has some enough money left to take and who will make the decision? If a family has a little money left in savings to start over, is Fannie Mae going to take the last little bit of security that family has?

Critics and experts say its unclear what results Fannie hopes to accomplish with this move. The eventual cost to tax payers for the Fannie Mae and Freddie Mac bailout is estimated to hit $400 billion. This is a funny way to pay back the very people who are footing the bill. Some say its a "cruel joke." Lou Barnes, a Colorado mortgage banker, said, "theyre bringing back the debtors prison, Fannie wants to lock people up in jail of negative net worth for much of the rest of their lives."

The Fannie Mae plan is said to be in direct conflict with President Obamas plan to restart our weak housing market. The Obama administration has been lowering interest rates, insuring millions of new home loans, and offering tax credits in hopes of helping the housing market get back on its feet, also attempting to instill confidence in the American people again. A statement from a Treasury Department spokesman said that Fannie Maes plan did not represent official Obama administration policy. This is a difficult road for our country. There has been a lot for the American people to accept the last couple of years; this just might be too much for some.

Read More from the New York Times

Posted in Headlines, Mortgage, Denver Colorado Real Estate, Real Estate Market Conditions, Foreclosure, Real Estate Industry, LoDo Lofts and Condos, Uptown Denver Lofts and Condos, Downtown Denver Lofts and Condos, Denver Loft and Condo Market Reports, Highlands Lofts and Condos, Press, Cherry Creek Lofts and Condos, City Park Lofts and Condos

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