A Different Take on the Mortgage Bail-out/Keeping People in Their Homes … The Long Term Effect

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[quote=TheBreeze]Good grief. All of these people could have rented. If they get foreclosed, they can still rent and will likely be in a better place financially. All of this sympathy and bailout money going to greedy FBs is just ridiculous.

I feel much more sympathy for someone who gets evicted. Those people are much more likely to end up on the street than a family of FBs who have at least 9 months of no housing payment before they get kicked out.

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Exactly my sentiments. When I had my place in Carmel Valley, my neighbors moved to Europe and rented out their house to a very nice couple w/3 kids. They lived in the house for a few years until they bought a house.

I am just so sick of hearing about people “having” to buy a house b/c of the kids. Like there are no other choice or alternatives. Don’t utter the dirty “R” word. {Gasp} God forbid.

[cr]

But Breezey, your demi-god wants to help all the foreclosed buyers stay in their homes, right? Sounds like you’re experiencing a bit of cognitive dissonance.

That’s not very faithful of you.

It is a joke – I talked to a broker the other day and asked why homeowners who stated their income get a chance to reduce their loans, when new buyers who stayed out of the bubble get stuck with higher rates, bigger down payments, and watch homeowners live rent free b/c banks are too busy/lazy to send out an eviction notice?

He basically said reworking the loan is the lesser of two evils.

The good would be kick out the FB and sell the home off to a renter with a good FICO and 20%.

But it still rewards speculators.

[cr]

But Breezey, your demi-god wants to help all the foreclosed buyers stay in their homes, right? Sounds like you’re experiencing a bit of cognitive dissonance.

That’s not very faithful of you.

It is a joke – I talked to a broker the other day and asked why homeowners who stated their income get a chance to reduce their loans, when new buyers who stayed out of the bubble get stuck with higher rates, bigger down payments, and watch homeowners live rent free b/c banks are too busy/lazy to send out an eviction notice?

He basically said reworking the loan is the lesser of two evils.

The good would be kick out the FB and sell the home off to a renter with a good FICO and 20%.

But it still rewards speculators.

[cr]

But Breezey, your demi-god wants to help all the foreclosed buyers stay in their homes, right? Sounds like you’re experiencing a bit of cognitive dissonance.

That’s not very faithful of you.

It is a joke – I talked to a broker the other day and asked why homeowners who stated their income get a chance to reduce their loans, when new buyers who stayed out of the bubble get stuck with higher rates, bigger down payments, and watch homeowners live rent free b/c banks are too busy/lazy to send out an eviction notice?

He basically said reworking the loan is the lesser of two evils.

The good would be kick out the FB and sell the home off to a renter with a good FICO and 20%.

But it still rewards speculators.

[cr]

But Breezey, your demi-god wants to help all the foreclosed buyers stay in their homes, right? Sounds like you’re experiencing a bit of cognitive dissonance.

That’s not very faithful of you.

It is a joke – I talked to a broker the other day and asked why homeowners who stated their income get a chance to reduce their loans, when new buyers who stayed out of the bubble get stuck with higher rates, bigger down payments, and watch homeowners live rent free b/c banks are too busy/lazy to send out an eviction notice?

He basically said reworking the loan is the lesser of two evils.

The good would be kick out the FB and sell the home off to a renter with a good FICO and 20%.

But it still rewards speculators.

[cr]

But Breezey, your demi-god wants to help all the foreclosed buyers stay in their homes, right? Sounds like you’re experiencing a bit of cognitive dissonance.

That’s not very faithful of you.

It is a joke – I talked to a broker the other day and asked why homeowners who stated their income get a chance to reduce their loans, when new buyers who stayed out of the bubble get stuck with higher rates, bigger down payments, and watch homeowners live rent free b/c banks are too busy/lazy to send out an eviction notice?

He basically said reworking the loan is the lesser of two evils.

The good would be kick out the FB and sell the home off to a renter with a good FICO and 20%.

But it still rewards speculators.

[Author]

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