| Loss Mitigation General Chat loss mitigation |
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...Income? I was just total by my sister that our mother receives her monthly interest from a Fannie Mae First Trust Income Trust Series. She has had it for years. She's in charge of that stuff. The is the first I've heard of it. Over ten years ago she put $225 thousand into it and she gets back interest every month with basically pays all her bills. With all that's going on - should I be worried? Should I pull that money now?
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You've got a struggling company Fannie Mae, possibly on the verge of bankruptcy. I would almost certainly be concerned. I hope for your mother's sake, that this is just a small part of her portfolio. Generally you don't want more than 10% of your portfolio in any one asset, or investment.The problem with trying to get out now (if you can), would most likely be trying to find a buyer for these. If you could sell them at all, I would imagine it would be at a steep discount. I would do more research, and see what you can find out.
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