More Trouble For Fannie Mae, Freddie Mac

Now they’re getting sued for unpaid taxes.

Fannie and Freddie are struggling under the burden of tens of thousands of repossessed homes. They’re overwhelmed. They’re losing, on average, about $40,000 per home.

Daily Tribune reports:

Suing mortgage giants Fannie Mae and Freddie Mac for real estate transfer taxes is the start of legal action to clean up the messy foreclosures crisis, Oakland County Treasurer Andy Meisner said.

Meisner held a news conference Thursday to detail the lawsuit filed Monday in federal court in Detroit.

Meisner and county attorneys seek to recover as much as $1.5 million in real estate transfer taxes they claim is owed by Fannie Mae and Freddie Mac.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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