Oakland County vows to take Fannie Mae and Freddie Mac to U.S. Supreme Court

Upon hearing the Sixth Circuit Court of Appeal’s decision to reverse the District Court decision of Oakland County vs. Fannie Mae and Freddie Mac, Oakland County Treasurer Andy Meisner vows to take the County’s fight to the U.S. Supreme Court.

“As expected, we’re taking our fight to make sure Fannie Mae and Freddie Mac pay Oakland County taxpayers their fair share to the U.S. Supreme Court.”

Oakland County was the plaintiff in a groundbreaking lawsuit that would require mortgage giants such as Fannie Mae and Freddie Mac to pay their fair share of real estate transfer tax.  A decision by U.S. District Court Judge Victoria A. Roberts of the Eastern District of Michigan on March 23, 2012 demanded the mortgage giants pay the real estate transfer tax. That decision was reversed, and Oakland County has 90 days to file an appeal. It is estimated Oakland County is owed up to $4 million in this transfer tax.

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