Govt planning principal reductions

[Aecetia]

Banks also hate people who pay off their credit cards monthly.

[socrattt]

Back to the topic at hand. I think there should have been a reasonably fair way to handle this bailout. Foreclose these homes, put them in a national auction with no reserve for buyers with credit scores higher than 650. If the buyer wants to sell for a profit that should be allowed since he/she was the responsible saver.

If we had a format where the responsible had the opportunity to purchase homes at a reduced rate it would benefit those who actually waited out this housing boom. The irresponsible would eventually pay, by not having the opportunity to be involved in these auctions. I don’t care if the government takes my tax dollars to bailout our uneducated citizens, just allow me to benefit more than the irresponsible. Is that asking too much? I’ve already lost 70% of my 401K, should I lose in the real estate market as well by not having an opportunity to by an affordable home becuase the government is trying prop prices up?

[socrattt]

Back to the topic at hand. I think there should have been a reasonably fair way to handle this bailout. Foreclose these homes, put them in a national auction with no reserve for buyers with credit scores higher than 650. If the buyer wants to sell for a profit that should be allowed since he/she was the responsible saver.

If we had a format where the responsible had the opportunity to purchase homes at a reduced rate it would benefit those who actually waited out this housing boom. The irresponsible would eventually pay, by not having the opportunity to be involved in these auctions. I don’t care if the government takes my tax dollars to bailout our uneducated citizens, just allow me to benefit more than the irresponsible. Is that asking too much? I’ve already lost 70% of my 401K, should I lose in the real estate market as well by not having an opportunity to by an affordable home becuase the government is trying prop prices up?

[socrattt]

Back to the topic at hand. I think there should have been a reasonably fair way to handle this bailout. Foreclose these homes, put them in a national auction with no reserve for buyers with credit scores higher than 650. If the buyer wants to sell for a profit that should be allowed since he/she was the responsible saver.

If we had a format where the responsible had the opportunity to purchase homes at a reduced rate it would benefit those who actually waited out this housing boom. The irresponsible would eventually pay, by not having the opportunity to be involved in these auctions. I don’t care if the government takes my tax dollars to bailout our uneducated citizens, just allow me to benefit more than the irresponsible. Is that asking too much? I’ve already lost 70% of my 401K, should I lose in the real estate market as well by not having an opportunity to by an affordable home becuase the government is trying prop prices up?

[socrattt]

Back to the topic at hand. I think there should have been a reasonably fair way to handle this bailout. Foreclose these homes, put them in a national auction with no reserve for buyers with credit scores higher than 650. If the buyer wants to sell for a profit that should be allowed since he/she was the responsible saver.

If we had a format where the responsible had the opportunity to purchase homes at a reduced rate it would benefit those who actually waited out this housing boom. The irresponsible would eventually pay, by not having the opportunity to be involved in these auctions. I don’t care if the government takes my tax dollars to bailout our uneducated citizens, just allow me to benefit more than the irresponsible. Is that asking too much? I’ve already lost 70% of my 401K, should I lose in the real estate market as well by not having an opportunity to by an affordable home becuase the government is trying prop prices up?

[socrattt]

Back to the topic at hand. I think there should have been a reasonably fair way to handle this bailout. Foreclose these homes, put them in a national auction with no reserve for buyers with credit scores higher than 650. If the buyer wants to sell for a profit that should be allowed since he/she was the responsible saver.

If we had a format where the responsible had the opportunity to purchase homes at a reduced rate it would benefit those who actually waited out this housing boom. The irresponsible would eventually pay, by not having the opportunity to be involved in these auctions. I don’t care if the government takes my tax dollars to bailout our uneducated citizens, just allow me to benefit more than the irresponsible. Is that asking too much? I’ve already lost 70% of my 401K, should I lose in the real estate market as well by not having an opportunity to by an affordable home becuase the government is trying prop prices up?

[cr]

I agree. No one trying to save the FB’s thinks about the longer term repercussions on future generations that will support this economy in the coming decades and be the ones working off the trillions in bailouts we are wasting today.

That said, look at how successful the $300 Billion bailout from July wasn’t.

Maybe I’m overly wishful that this won’t amount to much in rewarding stupidity, and I agree the Government will do *something*, but the banks are the ones who have to take the hit. I suppose the Gov’t could cover those losses, but you reward the reckless <10% behind on payments you'll have to answer to an angrey 90%.

[cr]

I agree. No one trying to save the FB’s thinks about the longer term repercussions on future generations that will support this economy in the coming decades and be the ones working off the trillions in bailouts we are wasting today.

That said, look at how successful the $300 Billion bailout from July wasn’t.

Maybe I’m overly wishful that this won’t amount to much in rewarding stupidity, and I agree the Government will do *something*, but the banks are the ones who have to take the hit. I suppose the Gov’t could cover those losses, but you reward the reckless <10% behind on payments you'll have to answer to an angrey 90%.

[cr]

I agree. No one trying to save the FB’s thinks about the longer term repercussions on future generations that will support this economy in the coming decades and be the ones working off the trillions in bailouts we are wasting today.

That said, look at how successful the $300 Billion bailout from July wasn’t.

Maybe I’m overly wishful that this won’t amount to much in rewarding stupidity, and I agree the Government will do *something*, but the banks are the ones who have to take the hit. I suppose the Gov’t could cover those losses, but you reward the reckless <10% behind on payments you'll have to answer to an angrey 90%.

[cr]

I agree. No one trying to save the FB’s thinks about the longer term repercussions on future generations that will support this economy in the coming decades and be the ones working off the trillions in bailouts we are wasting today.

That said, look at how successful the $300 Billion bailout from July wasn’t.

Maybe I’m overly wishful that this won’t amount to much in rewarding stupidity, and I agree the Government will do *something*, but the banks are the ones who have to take the hit. I suppose the Gov’t could cover those losses, but you reward the reckless <10% behind on payments you'll have to answer to an angrey 90%.

[cr]

I agree. No one trying to save the FB’s thinks about the longer term repercussions on future generations that will support this economy in the coming decades and be the ones working off the trillions in bailouts we are wasting today.

That said, look at how successful the $300 Billion bailout from July wasn’t.

Maybe I’m overly wishful that this won’t amount to much in rewarding stupidity, and I agree the Government will do *something*, but the banks are the ones who have to take the hit. I suppose the Gov’t could cover those losses, but you reward the reckless <10% behind on payments you'll have to answer to an angrey 90%.

[blahblahblah]

I can assure you that none of the plans we will see will benefit the stupid homebuyers that got in over their heads, except that they will be able to effectively rent their houses indefinitely. They will never build any equity, they will never own them. Here’s what will happen:

* Banks will get government to pay them for their bad debt losses. They keep the houses, effectively purchasing them with free money from the government.

* The banks will allow the overextended homebuyers to remain in the homes by extending the mortgage terms or doing indefinite interest-only loans. The “homebuyers” will get to stay in the house but most of them will never own it.

What is happening is the creation of a huge class of indentured servants beholden to the banking class, all financed with your tax dollars. Yes they will get to live in their McMansions, but they will be far from free.

The last thing the banker class wants is lower house prices! If house prices revert to their true value, many savers will purchase them and the bankers will be cheated out of large amounts of interest income. By keeping the houses in weaker hands they can ensure a steady stream of interest nearly indefinitely. This is only possible because the government is giving the cash to finance the operation.

100 years ago most homes were eventually owned by those who lived in them. 30 years ago, a lot of people paid their mortgages off before they passed away and their children inherited real property. Now, very few people will ever pay these houses off and they will remain in the hands of the banker class forever. Your tax dollars are going to purchase homes and give them to the bankers. They can rent them to “homebuyers” forever and earn interest, they never have to do any repairs (that’s the responsibility of the “homebuyer”). When one “homebuyer” passes away or can no longer make payments, it goes to the next “homebuyer” who will likely be in the same boat. It is pure evil genius.

Welcome to the USSA comrades. The TRUE FACE of your government is now becoming visible; it is not the president or congress or the courts, they are only the administrators. The banks run this show…

[blahblahblah]

I can assure you that none of the plans we will see will benefit the stupid homebuyers that got in over their heads, except that they will be able to effectively rent their houses indefinitely. They will never build any equity, they will never own them. Here’s what will happen:

* Banks will get government to pay them for their bad debt losses. They keep the houses, effectively purchasing them with free money from the government.

* The banks will allow the overextended homebuyers to remain in the homes by extending the mortgage terms or doing indefinite interest-only loans. The “homebuyers” will get to stay in the house but most of them will never own it.

What is happening is the creation of a huge class of indentured servants beholden to the banking class, all financed with your tax dollars. Yes they will get to live in their McMansions, but they will be far from free.

The last thing the banker class wants is lower house prices! If house prices revert to their true value, many savers will purchase them and the bankers will be cheated out of large amounts of interest income. By keeping the houses in weaker hands they can ensure a steady stream of interest nearly indefinitely. This is only possible because the government is giving the cash to finance the operation.

100 years ago most homes were eventually owned by those who lived in them. 30 years ago, a lot of people paid their mortgages off before they passed away and their children inherited real property. Now, very few people will ever pay these houses off and they will remain in the hands of the banker class forever. Your tax dollars are going to purchase homes and give them to the bankers. They can rent them to “homebuyers” forever and earn interest, they never have to do any repairs (that’s the responsibility of the “homebuyer”). When one “homebuyer” passes away or can no longer make payments, it goes to the next “homebuyer” who will likely be in the same boat. It is pure evil genius.

Welcome to the USSA comrades. The TRUE FACE of your government is now becoming visible; it is not the president or congress or the courts, they are only the administrators. The banks run this show…

[blahblahblah]

I can assure you that none of the plans we will see will benefit the stupid homebuyers that got in over their heads, except that they will be able to effectively rent their houses indefinitely. They will never build any equity, they will never own them. Here’s what will happen:

* Banks will get government to pay them for their bad debt losses. They keep the houses, effectively purchasing them with free money from the government.

* The banks will allow the overextended homebuyers to remain in the homes by extending the mortgage terms or doing indefinite interest-only loans. The “homebuyers” will get to stay in the house but most of them will never own it.

What is happening is the creation of a huge class of indentured servants beholden to the banking class, all financed with your tax dollars. Yes they will get to live in their McMansions, but they will be far from free.

The last thing the banker class wants is lower house prices! If house prices revert to their true value, many savers will purchase them and the bankers will be cheated out of large amounts of interest income. By keeping the houses in weaker hands they can ensure a steady stream of interest nearly indefinitely. This is only possible because the government is giving the cash to finance the operation.

100 years ago most homes were eventually owned by those who lived in them. 30 years ago, a lot of people paid their mortgages off before they passed away and their children inherited real property. Now, very few people will ever pay these houses off and they will remain in the hands of the banker class forever. Your tax dollars are going to purchase homes and give them to the bankers. They can rent them to “homebuyers” forever and earn interest, they never have to do any repairs (that’s the responsibility of the “homebuyer”). When one “homebuyer” passes away or can no longer make payments, it goes to the next “homebuyer” who will likely be in the same boat. It is pure evil genius.

Welcome to the USSA comrades. The TRUE FACE of your government is now becoming visible; it is not the president or congress or the courts, they are only the administrators. The banks run this show…

[blahblahblah]

I can assure you that none of the plans we will see will benefit the stupid homebuyers that got in over their heads, except that they will be able to effectively rent their houses indefinitely. They will never build any equity, they will never own them. Here’s what will happen:

* Banks will get government to pay them for their bad debt losses. They keep the houses, effectively purchasing them with free money from the government.

* The banks will allow the overextended homebuyers to remain in the homes by extending the mortgage terms or doing indefinite interest-only loans. The “homebuyers” will get to stay in the house but most of them will never own it.

What is happening is the creation of a huge class of indentured servants beholden to the banking class, all financed with your tax dollars. Yes they will get to live in their McMansions, but they will be far from free.

The last thing the banker class wants is lower house prices! If house prices revert to their true value, many savers will purchase them and the bankers will be cheated out of large amounts of interest income. By keeping the houses in weaker hands they can ensure a steady stream of interest nearly indefinitely. This is only possible because the government is giving the cash to finance the operation.

100 years ago most homes were eventually owned by those who lived in them. 30 years ago, a lot of people paid their mortgages off before they passed away and their children inherited real property. Now, very few people will ever pay these houses off and they will remain in the hands of the banker class forever. Your tax dollars are going to purchase homes and give them to the bankers. They can rent them to “homebuyers” forever and earn interest, they never have to do any repairs (that’s the responsibility of the “homebuyer”). When one “homebuyer” passes away or can no longer make payments, it goes to the next “homebuyer” who will likely be in the same boat. It is pure evil genius.

Welcome to the USSA comrades. The TRUE FACE of your government is now becoming visible; it is not the president or congress or the courts, they are only the administrators. The banks run this show…

[Author]

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