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How Fannie Mae And You Bought A Hapless House


First Posted: 09-28-08 09:15 AM   |   Updated: 10-29-08 05:12 AM

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Fannie Mae

Washington Post:

The American taxpayers own Yellowstone, Yosemite, the Grand Canyon, dozens of parks, monuments, wildlife refuges, forests, pastureland, government complexes and historic sites. And now, for all intents and purposes, the American people are the major stakeholders in a little townhouse at 14746 Barksdale St. in Dale City.

The titular owner is Fannie Mae, which the U.S. government effectively subsumed this month, though the legal machinations are still ongoing. With the Treasury backing Fannie Mae, taxpayers have a huge interest in the fate of the mortgage giant's assets. They include the 1,296-square-foot, two-level, three-bedroom, 1 1/2 -bath house on Barksdale.

Read the whole story: Washington Post

Filed by Nick Sabloff  |  Report Corrections