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Federal National Mortgage Association Message Board

  • lifeson99 lifeson99 Jun 25, 2014 7:41 AM Flag

    HOLDing right now - is the hardest thing I have ever done

    I have ALL eggs in this basket. My 401k is 100% in. My IRA is 100% in.
    I am terrified and wish I had not done this. But now I have lost sooooo much money in the last 10 days that I just can't stand to get out and have no chance to get it back. This is really devastating me.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • You'll soon be a rich guy..

    • I am about half of your courage as yours on this, if you have 100% in. I am only 43.

    • I feel like I am in the same boat but not 100%. Not even 50%! What are you doing? The bright side is it is deferred income and the greedy idiot government/treasury looses to.

      Sentiment: Strong Buy

    • What you did was, well, stupid, from a gambling perspective.

      Assuming you're not 55+, you're ok. Just sit tight.

      • 1 Reply to lespaulz24
      • I should also point out that I am also more vested in this than I care to be... about 20% of my assets. I am daily tempted to buy more, selling other holdings to do so, but stop myself. Even though the upside is there, if it were to all go away at least i'd still have the others.

        To quote Nici Lauda,
        "I accept every time I get in my car there is a 20% chance I could die, and I can live with it, but not 1% more. "

    • hmmm... how did you get ur 401K to buy FNMA ? isnt that only selected funds based on your company's direction ? I know you've been around in this board from last year.. if you got in from last year (sub 1 ) then you shouldn't be freaking out.... do your DD, below dpell shared key items .. and there are many on top of it... one thing i know for sure that if FnF were to be demolished, then Gov will add 5 Trillion debt that just like 30% in one stroke of pen.... and biggest Bond buyer like PIMCO already went LIVE that they wont buy any MBS that is not backed by FnF... try that from Private MBS - it will be just another Bear Stearns case... these politicians know these facts, they just so corrupted and want to get money from WS while creating fiesta and trade this stock themselves.

      • 2 Replies to whitecorona
      • white corona, if you wind down FnF they still exist legally until all of their assets and liabilities are resolved, they dont magically get transferred over to the treasury.
        PIMCO says they wont buy mortgage bonds that are not backed by the govt, I believe you to be sincere, however just like many on this board somehow get the facts twisted.

      • Smaller companies like one i used to work at has a simple IRA instead of 401k. it had the same tax rules more or less for small business and allowed full market trades.

        they tried to get me to roll it over at my new job.

        I lol'ed.

        I continue to pay the $25 a year management fee to keep a non-contributing simple IRA open, and i simply use some REIT's to earn cash into the account to buy other holdings with. I haven't contributed to it in 7 years now and i've quadrupled the value since i left the company. my fund-locked 401k meanwhile sits at a whopping 6% gain. If it wasn't for the match, i wouldn't be in it....

    • analysts_are_foolish_idiots analysts_are_foolish_idiots Jun 25, 2014 9:56 AM Flag

      You have not lost a thing until you sell. plus it will come back. No worries

    • poet Rudyard Kipling
      #21 on top 500 poets

      Poet's Page

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      Poems by Rudyard Kipling : 143 / 544

      « I Keep Six Honest...
      In Error »


      If you can keep your head when all about you
      Are losing theirs and blaming it on you;
      If you can trust yourself when all men doubt you,
      But make allowance for their doubting too:
      If you can wait and not be tired by waiting,
      Or, being lied about, don't deal in lies,
      Or being hated don't give way to hating,
      And yet don't look too good, nor talk too wise;

      If you can dream---and not make dreams your master;
      If you can think---and not make thoughts your aim,
      If you can meet with Triumph and Disaster
      And treat those two impostors just the same:.
      If you can bear to hear the truth you've spoken
      Twisted by knaves to make a trap for fools,
      Or watch the things you gave your life to, broken,
      And stoop and build'em up with worn-out tools;

      If you can make one heap of all your winnings
      And risk it on one turn of pitch-and-toss,
      And lose, and start again at your beginnings,
      And never breathe a word about your loss:
      If you can force your heart and nerve and sinew
      To serve your turn long after they are gone,
      And so hold on when there is nothing in you
      Except the Will which says to them: "Hold on!"

      If you can talk with crowds and keep your virtue,
      Or walk with Kings---nor lose the common touch,
      If neither foes nor loving friends can hurt you,
      If all men count with you, but none too much:
      If you can fill the unforgiving minute
      With sixty seconds' worth of distance run,
      Yours is the Earth and everything that's in it,
      And---which is more---you'll be a Man, my son!
      Rudyard Kipling

    • THen BUy more! Borrow from Granny if you have to..... NO GUTS NO GLORY!

    • Well, I can give you some insight from my 23 year back-ground in mortgages to try and alleviate some of the pain but I'm not sure it will make you feel much better given the statements you have made above. That being said, Let's go thru some facts:

      1) IF FnF get extinguished, the 30 year mortgage goes away, leaving 60%-75% of the country no place to REFI or PURCHASE a HOME with little or no money down in an economy where college educated students are struggling to get a job....scared yet? READ ON....

      2) IF FnF get extinguished, the economy WILL SPIN into a recession, NOTHING OF THE LIKES OF 2008!!! In fact, 2008 will seem like a walk in the park compared to what this would be....cause Fannie and Freddie were still lending back than..IT WOULD BE MONUMENTAL TO THE POINT 75% of our portfolios would be wiped out....simply, without a healthy HOUSING sector, as you saw in 2008, this country and economy WOULD SINK!

      3) Elections are upon us and if you think Obama doesn't have a plan to make it LOOK LIKE he saved us by releasing the conservatorship, and building up the economy, you are fooling yourself....he's not going out by watching ANOTHER RECESSION HIT just as he walks away from the presidency.....he's already one of the worst presidents we've had, and he would be PUT UP ON THE HILL as public enemy number 1 if he leaves office with the SAME SHAMBLES OR WORSE, than it was when he got here! HE KNOWS THIS!! Remember his words when he was campaigning that bright sunny day in September in 2008, when Lehman Brothers was going under? He said, "IF Fannie Mae and Freddie Mac were to go under, it would be disastrous for the economy as we know it!"

      4) Johnson/Crapo Bill-- is exactly that....a bunch of CRAPO with no chance of passing!

      5) Finally, the court cases... with Fairholme, the parties have agreed to bring back their discussions to court on July 11th, meaning they are talking now and that's directly because Cooper is beating the hell out of the government. STAY TUNED

      Sentiment: Strong Buy

    • Pray to God All Day!!!!!! And Every Night!!!!! In God We Trust!!!! Our Treasure!!!!

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