The two villains in the financial bailout problems America is having will place holds on foreclosures until early next year. The six week halt will begin Nov. 26, a day before Thanksgiving holiday, and last through Jan. 9th. Fannie and Freddie own or guarantee $5.2 trillion of the $12 trillion U.S. home mortgage market and have been shown to be a direct contributor to the world financial problems after they followed the orders of Congress lead by Barney Frank and Maxine Waters and provided backing of loans to Minorities without documentation of ability to repay.

Barack Obama at that time lead the fight to get no documentation loans for minorities. Joined by Richard Parsons Chair of CitiGroup and now on Obama’s Transition Team, Banks targeted Minorities in what was said by Maxine Waters to be “Geographically Targeted Minority Areas Of The Country” where because of income people could not qualify for standard loans.

Obama has suggested that his administration will not only refinance these 1.2 Million Minority Loans from ARMs to Fixed Rates but they will pay down the loan for the minority home buyers. Basically meaning your 70% loss in your 401K retirement plan just went to pay for a home owned by a minority loan applicant.