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  • January 2, 2010 at 10:32 AM #16864
    Ex-SD
    Participant

    U.S. loan program may have made things worse

    Experts: $75 billion effort to fight foreclosures has hurt some homeowners

    The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.

    Since President Obama announced the program in February, it has lowered mortgage payments on a trial basis for hundreds of thousands of people but has largely failed to provide permanent relief. Critics increasingly argue that the program, Making Home Affordable, has raised false hopes among people who simply cannot afford their homes.

    As a result, desperate homeowners have sent payments to banks in often-futile efforts to keep their homes, which some see as wasting dollars they could have saved in preparation for moving to cheaper rental residences. Some borrowers have seen their credit tarnished while falsely assuming that loan modifications involved no negative reports to credit agencies.

    It’s a long article / three pages so, entire story here: http://www.msnbc.msn.com/id/34663078/ns/business-the_new_york_times/

    January 2, 2010 at 11:51 AM #498398
    Rt.66
    Participant

    All the banks have to do is ATTEMPT a loan rework and Fannie or Freddie are mandated to buy the non-performing loan at 100% value.

    HAMP and those silly Principal Reduction rummors are all chaff designed to distract us from what has been going on all year, namely the $40 billion per month purchase of lame MBSs from banks, by the GSEs.

    If you have listened to the realtors subtle statements to lead you to believe the bottom is in….you’ve been had again by society’s most consistant piriahs.

    One program designed to transfer the foreclosures and non-performing loans (future foreclosures) TO THE GSEs ended last week, another ends in a few months then the tax payers will own the deadbeat’s homes and the RTC2 or something like it will emerge.

    January 2, 2010 at 11:51 AM #498549
    Rt.66
    Participant

    All the banks have to do is ATTEMPT a loan rework and Fannie or Freddie are mandated to buy the non-performing loan at 100% value.

    HAMP and those silly Principal Reduction rummors are all chaff designed to distract us from what has been going on all year, namely the $40 billion per month purchase of lame MBSs from banks, by the GSEs.

    If you have listened to the realtors subtle statements to lead you to believe the bottom is in….you’ve been had again by society’s most consistant piriahs.

    One program designed to transfer the foreclosures and non-performing loans (future foreclosures) TO THE GSEs ended last week, another ends in a few months then the tax payers will own the deadbeat’s homes and the RTC2 or something like it will emerge.

    January 2, 2010 at 11:51 AM #498941
    Rt.66
    Participant

    All the banks have to do is ATTEMPT a loan rework and Fannie or Freddie are mandated to buy the non-performing loan at 100% value.

    HAMP and those silly Principal Reduction rummors are all chaff designed to distract us from what has been going on all year, namely the $40 billion per month purchase of lame MBSs from banks, by the GSEs.

    If you have listened to the realtors subtle statements to lead you to believe the bottom is in….you’ve been had again by society’s most consistant piriahs.

    One program designed to transfer the foreclosures and non-performing loans (future foreclosures) TO THE GSEs ended last week, another ends in a few months then the tax payers will own the deadbeat’s homes and the RTC2 or something like it will emerge.

    January 2, 2010 at 11:51 AM #499034
    Rt.66
    Participant

    All the banks have to do is ATTEMPT a loan rework and Fannie or Freddie are mandated to buy the non-performing loan at 100% value.

    HAMP and those silly Principal Reduction rummors are all chaff designed to distract us from what has been going on all year, namely the $40 billion per month purchase of lame MBSs from banks, by the GSEs.

    If you have listened to the realtors subtle statements to lead you to believe the bottom is in….you’ve been had again by society’s most consistant piriahs.

    One program designed to transfer the foreclosures and non-performing loans (future foreclosures) TO THE GSEs ended last week, another ends in a few months then the tax payers will own the deadbeat’s homes and the RTC2 or something like it will emerge.

    January 2, 2010 at 11:51 AM #499278
    Rt.66
    Participant

    All the banks have to do is ATTEMPT a loan rework and Fannie or Freddie are mandated to buy the non-performing loan at 100% value.

    HAMP and those silly Principal Reduction rummors are all chaff designed to distract us from what has been going on all year, namely the $40 billion per month purchase of lame MBSs from banks, by the GSEs.

    If you have listened to the realtors subtle statements to lead you to believe the bottom is in….you’ve been had again by society’s most consistant piriahs.

    One program designed to transfer the foreclosures and non-performing loans (future foreclosures) TO THE GSEs ended last week, another ends in a few months then the tax payers will own the deadbeat’s homes and the RTC2 or something like it will emerge.

    January 3, 2010 at 8:10 PM #498752
    Hitler
    Participant

    Yeah, it’s interesting that the Fed has bought over a trillion in MBS last year and suddenly the banks are showing profits and the Fed is now talking about raising interest rates. I’m thinking the Fed (taxpayers) took all the junk off the books of the banks and now the Fed wants to raise rates so the banks can make even more money.

    January 3, 2010 at 8:10 PM #498903
    Hitler
    Participant

    Yeah, it’s interesting that the Fed has bought over a trillion in MBS last year and suddenly the banks are showing profits and the Fed is now talking about raising interest rates. I’m thinking the Fed (taxpayers) took all the junk off the books of the banks and now the Fed wants to raise rates so the banks can make even more money.

    January 3, 2010 at 8:10 PM #499295
    Hitler
    Participant

    Yeah, it’s interesting that the Fed has bought over a trillion in MBS last year and suddenly the banks are showing profits and the Fed is now talking about raising interest rates. I’m thinking the Fed (taxpayers) took all the junk off the books of the banks and now the Fed wants to raise rates so the banks can make even more money.

    January 3, 2010 at 8:10 PM #499386
    Hitler
    Participant

    Yeah, it’s interesting that the Fed has bought over a trillion in MBS last year and suddenly the banks are showing profits and the Fed is now talking about raising interest rates. I’m thinking the Fed (taxpayers) took all the junk off the books of the banks and now the Fed wants to raise rates so the banks can make even more money.

    January 3, 2010 at 8:10 PM #499633
    Hitler
    Participant

    Yeah, it’s interesting that the Fed has bought over a trillion in MBS last year and suddenly the banks are showing profits and the Fed is now talking about raising interest rates. I’m thinking the Fed (taxpayers) took all the junk off the books of the banks and now the Fed wants to raise rates so the banks can make even more money.

    January 3, 2010 at 10:10 PM #498807
    scaredyclassic
    Participant

    why why why?

    January 3, 2010 at 10:10 PM #498958
    scaredyclassic
    Participant

    why why why?

    January 3, 2010 at 10:10 PM #499349
    scaredyclassic
    Participant

    why why why?

    January 3, 2010 at 10:10 PM #499441
    scaredyclassic
    Participant

    why why why?

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