1. “It is counter intuitive why supposedly rational lenders who are sophisticated and would normally seek to make economic decisions in their own best interest, are flooding the market with even more foreclosed homes every day, rather than renegotiating with a homeowner.”
You’re making the assumption that somehow being in possession of a house means that the possessor deserves to remain in that house and should be enabled to remain in that house. Being able to fog a mirror does not make a “homeowner” (to use your term).
2. “the reality was that it didn’t matter for many foreclosed buyers how much money they put down, they could not afford the increased payments”
Isn’t this what I was saying above? We are talking about people who could not and can no afford the houses that they are currently in possession of. How does enabling them to remain in a house that they can’t afford help them, the economy or society in general?
3. “We need affordable (unsubsidized) housing so first time homebuyers, single parents, and the common working person can purchase homes”
We are well on our way to having affordable housing again but people like you with a vested interest in real estate prices keep trying to stop the process.
4. “divorced single parents, young married couples, nurses, teachers, firemen, police, EMTs”
You forgot to mention apple pie and mother hood. Give me a fucking break on the sympathy ploy!
5. “Most people do not understand what was the major cause of the housing bubble of 2004. It was fear.”
No, it was fog-a-mirror loans being given to unqualified buyers.
