Home › Forums › Housing › A Different Take on the Mortgage Bail-out/Keeping People in Their Homes … The Long Term Effect
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February 21, 2009 at 2:45 PM #15126February 21, 2009 at 3:05 PM #351411SD RealtorParticipant
I got a different take from the article. To me the article just points out that these loan mods are nothing more then a snare net for current homeowners. It will serve no purpose other then the further enslave salaries of these homeowners. They will not maintain the homes as much as perhaps maintain payments. Similarly this will serve an additional purpose of distorting comp analysis because no appraiser, no reseller, nobody will no which homes have been subject to modifications and which have not.
February 21, 2009 at 3:05 PM #351983SD RealtorParticipantI got a different take from the article. To me the article just points out that these loan mods are nothing more then a snare net for current homeowners. It will serve no purpose other then the further enslave salaries of these homeowners. They will not maintain the homes as much as perhaps maintain payments. Similarly this will serve an additional purpose of distorting comp analysis because no appraiser, no reseller, nobody will no which homes have been subject to modifications and which have not.
February 21, 2009 at 3:05 PM #351885SD RealtorParticipantI got a different take from the article. To me the article just points out that these loan mods are nothing more then a snare net for current homeowners. It will serve no purpose other then the further enslave salaries of these homeowners. They will not maintain the homes as much as perhaps maintain payments. Similarly this will serve an additional purpose of distorting comp analysis because no appraiser, no reseller, nobody will no which homes have been subject to modifications and which have not.
February 21, 2009 at 3:05 PM #351723SD RealtorParticipantI got a different take from the article. To me the article just points out that these loan mods are nothing more then a snare net for current homeowners. It will serve no purpose other then the further enslave salaries of these homeowners. They will not maintain the homes as much as perhaps maintain payments. Similarly this will serve an additional purpose of distorting comp analysis because no appraiser, no reseller, nobody will no which homes have been subject to modifications and which have not.
February 21, 2009 at 3:05 PM #351851SD RealtorParticipantI got a different take from the article. To me the article just points out that these loan mods are nothing more then a snare net for current homeowners. It will serve no purpose other then the further enslave salaries of these homeowners. They will not maintain the homes as much as perhaps maintain payments. Similarly this will serve an additional purpose of distorting comp analysis because no appraiser, no reseller, nobody will no which homes have been subject to modifications and which have not.
February 21, 2009 at 3:38 PM #351934jmrrobbie1ParticipantGood points! There is a percentage of families caught up in this mess that just had bad timing… they were at that place/time in life with family & job that happened to purchased at the wrong time – during the bubble. This is the group more likely to opt for staying in a home. I agree with your view though – it just enslaves the homeowners to keep the mortgage paid and little additional incentive. If I was in that situation I would have to realistically look at other options. The future comp analysis in these areas will be interesting.
February 21, 2009 at 3:38 PM #352033jmrrobbie1ParticipantGood points! There is a percentage of families caught up in this mess that just had bad timing… they were at that place/time in life with family & job that happened to purchased at the wrong time – during the bubble. This is the group more likely to opt for staying in a home. I agree with your view though – it just enslaves the homeowners to keep the mortgage paid and little additional incentive. If I was in that situation I would have to realistically look at other options. The future comp analysis in these areas will be interesting.
February 21, 2009 at 3:38 PM #351901jmrrobbie1ParticipantGood points! There is a percentage of families caught up in this mess that just had bad timing… they were at that place/time in life with family & job that happened to purchased at the wrong time – during the bubble. This is the group more likely to opt for staying in a home. I agree with your view though – it just enslaves the homeowners to keep the mortgage paid and little additional incentive. If I was in that situation I would have to realistically look at other options. The future comp analysis in these areas will be interesting.
February 21, 2009 at 3:38 PM #351461jmrrobbie1ParticipantGood points! There is a percentage of families caught up in this mess that just had bad timing… they were at that place/time in life with family & job that happened to purchased at the wrong time – during the bubble. This is the group more likely to opt for staying in a home. I agree with your view though – it just enslaves the homeowners to keep the mortgage paid and little additional incentive. If I was in that situation I would have to realistically look at other options. The future comp analysis in these areas will be interesting.
February 21, 2009 at 3:38 PM #351775jmrrobbie1ParticipantGood points! There is a percentage of families caught up in this mess that just had bad timing… they were at that place/time in life with family & job that happened to purchased at the wrong time – during the bubble. This is the group more likely to opt for staying in a home. I agree with your view though – it just enslaves the homeowners to keep the mortgage paid and little additional incentive. If I was in that situation I would have to realistically look at other options. The future comp analysis in these areas will be interesting.
February 21, 2009 at 4:15 PM #351794SD RealtorParticipantI do agree with you on that point about those who have been victims of bad timing. What is starting to twist my brain around though is the numbers. That is, I believe that initially the numbers of the “true tough luck cases” those who just had bad luck through unemployment or injury, were relatively small. Now I am not so sure… I think there is now a potentially larger number who are indeed screwed by unemployment.
There was a pretty good quote by Dennis Miller the other night on Leno… “I don’t mind providing help for the helpless but I am against helping the clueless”.
I keep in touch with a family who asked me to list and sell a short sale for them. While they are now crammed in a much smaller home, the rent they pay is about half of the previous mortgage. The husbands health problems have 100% cleared up, and they are much happier.
Talk about saving money all around…
February 21, 2009 at 4:15 PM #352055SD RealtorParticipantI do agree with you on that point about those who have been victims of bad timing. What is starting to twist my brain around though is the numbers. That is, I believe that initially the numbers of the “true tough luck cases” those who just had bad luck through unemployment or injury, were relatively small. Now I am not so sure… I think there is now a potentially larger number who are indeed screwed by unemployment.
There was a pretty good quote by Dennis Miller the other night on Leno… “I don’t mind providing help for the helpless but I am against helping the clueless”.
I keep in touch with a family who asked me to list and sell a short sale for them. While they are now crammed in a much smaller home, the rent they pay is about half of the previous mortgage. The husbands health problems have 100% cleared up, and they are much happier.
Talk about saving money all around…
February 21, 2009 at 4:15 PM #351921SD RealtorParticipantI do agree with you on that point about those who have been victims of bad timing. What is starting to twist my brain around though is the numbers. That is, I believe that initially the numbers of the “true tough luck cases” those who just had bad luck through unemployment or injury, were relatively small. Now I am not so sure… I think there is now a potentially larger number who are indeed screwed by unemployment.
There was a pretty good quote by Dennis Miller the other night on Leno… “I don’t mind providing help for the helpless but I am against helping the clueless”.
I keep in touch with a family who asked me to list and sell a short sale for them. While they are now crammed in a much smaller home, the rent they pay is about half of the previous mortgage. The husbands health problems have 100% cleared up, and they are much happier.
Talk about saving money all around…
February 21, 2009 at 4:15 PM #351954SD RealtorParticipantI do agree with you on that point about those who have been victims of bad timing. What is starting to twist my brain around though is the numbers. That is, I believe that initially the numbers of the “true tough luck cases” those who just had bad luck through unemployment or injury, were relatively small. Now I am not so sure… I think there is now a potentially larger number who are indeed screwed by unemployment.
There was a pretty good quote by Dennis Miller the other night on Leno… “I don’t mind providing help for the helpless but I am against helping the clueless”.
I keep in touch with a family who asked me to list and sell a short sale for them. While they are now crammed in a much smaller home, the rent they pay is about half of the previous mortgage. The husbands health problems have 100% cleared up, and they are much happier.
Talk about saving money all around…
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