I’ve grown up in the Midwest, what the rest of the United States calls “flyover country.” So it pained me to see the latest list by Forbes.com. The editors there put together a feature story on the United States’ fastest-dying cities. Of course, the Midwest — and Ohio, specifically — dominated the list.
Fannie Mae, which the Associated Press reports funds one of every five home loans in the United States, has written off $185 million of mortgage loans made to homeowners in Michigan and $101 million to those in Ohio. This means that Fannie Mae has decided that it has no chance of recovering any payment on these loans.
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Written by Dan Rafter [email] for b5media.
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