Feds Announce Plan to Delay Foreclosures

[pemeliza]

All of this bailout talk is getting nauseating.

A quote from a CNBC article describing the bailout.

“Some borrowed against their rising equity as home prices climbed, ASSUMING they would be able to refinance or SELL their homes BEFORE the higher payments began. But as prices have plummeted, many homeowners now owe more than their home is worth, and banks have tightened their lending practices, leaving even people with stellar credit struggling with higher payments.”

Read between the lines … not only were they assuming they would be able to sell before the higher payments but they were assuming they would be able to sell for a HUGE profit.

The government should not be in the business of writing
free call options. If the government is going to back
banks like this at least they should legislate a minimum
20% down payment to prevent a total fleece job of the
taxpayer and saver which we are seeing today.

I agree all of this action is to bail out banks and the
system. The true winners were unquestionably the homeowners that curtailed their greed and got out at a bloated price in 04-05.

[kewp]

The Republicans are doing everything in their power to turn the country into a nation of zombie debt slaves.

At this point, I think its immoral to *not* toss the keys. Foreclosure should be looked at as a patriotic act of civil disobedience.

We really need a national ‘mortgage default’ day to rally and bankrupt the usurers.

[kewp]

The Republicans are doing everything in their power to turn the country into a nation of zombie debt slaves.

At this point, I think its immoral to *not* toss the keys. Foreclosure should be looked at as a patriotic act of civil disobedience.

We really need a national ‘mortgage default’ day to rally and bankrupt the usurers.

[kewp]

The Republicans are doing everything in their power to turn the country into a nation of zombie debt slaves.

At this point, I think its immoral to *not* toss the keys. Foreclosure should be looked at as a patriotic act of civil disobedience.

We really need a national ‘mortgage default’ day to rally and bankrupt the usurers.

[kewp]

The Republicans are doing everything in their power to turn the country into a nation of zombie debt slaves.

At this point, I think its immoral to *not* toss the keys. Foreclosure should be looked at as a patriotic act of civil disobedience.

We really need a national ‘mortgage default’ day to rally and bankrupt the usurers.

[kewp]

The Republicans are doing everything in their power to turn the country into a nation of zombie debt slaves.

At this point, I think its immoral to *not* toss the keys. Foreclosure should be looked at as a patriotic act of civil disobedience.

We really need a national ‘mortgage default’ day to rally and bankrupt the usurers.

[lendingbubblecontinues]

Thank God this thing is “contained”.

Just imagine what the landscape would look like if it weren’t 😉

[lendingbubblecontinues]

Thank God this thing is “contained”.

Just imagine what the landscape would look like if it weren’t 😉

[lendingbubblecontinues]

Thank God this thing is “contained”.

Just imagine what the landscape would look like if it weren’t 😉

[lendingbubblecontinues]

Thank God this thing is “contained”.

Just imagine what the landscape would look like if it weren’t 😉

[lendingbubblecontinues]

Thank God this thing is “contained”.

Just imagine what the landscape would look like if it weren’t 😉

[kewp]

Haha! Yeah thats what I’ve been saying about inflation.

Thank God inflation is under control, otherwise it would really be killing me with the already high prices!

[kewp]

Haha! Yeah thats what I’ve been saying about inflation.

Thank God inflation is under control, otherwise it would really be killing me with the already high prices!

[kewp]

Haha! Yeah thats what I’ve been saying about inflation.

Thank God inflation is under control, otherwise it would really be killing me with the already high prices!

[kewp]

Haha! Yeah thats what I’ve been saying about inflation.

Thank God inflation is under control, otherwise it would really be killing me with the already high prices!

[Author]

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