Paulson: Subprime help on the way

[nostradamus]

I have yet to hear any concrete details about how FB’s will be helped.

I don’t think it’s possible to keep prices high, but I didn’t think anything in the past couple RE years was possible. When I graduated UCSD in ’93 I thought SD was overpriced. Man oh man look at it now.

I think the likely “bailouts” will be bailing out the lender and shagging the FB. They’ll stay in “their” homes alright, shackled to some sort of recourse loan with lower interest and a longer term, as their home value goes down like a (_fill in the blank_). Anyone else care to speculate what the details of the bailout might involve?

[patientlywaiting]

” He said Hope Now is sending out the letters 120 days in advance of the resets so borrowers have plenty of time to act before foreclosure hits and the letters include a hot line number where the borrowers can obtain almost instant advice”

Does that mean that consumers’ loan information is being shared without their consents? Sounds link a privacy act violation to me.

Relate article. I want my arm frozen too.
http://gowest.blogs.fortune.cnn.com/2007/12/03/i-want-my-arm-rate-frozen-too/

[patientlywaiting]

” He said Hope Now is sending out the letters 120 days in advance of the resets so borrowers have plenty of time to act before foreclosure hits and the letters include a hot line number where the borrowers can obtain almost instant advice”

Does that mean that consumers’ loan information is being shared without their consents? Sounds link a privacy act violation to me.

Relate article. I want my arm frozen too.
http://gowest.blogs.fortune.cnn.com/2007/12/03/i-want-my-arm-rate-frozen-too/

[patientlywaiting]

” He said Hope Now is sending out the letters 120 days in advance of the resets so borrowers have plenty of time to act before foreclosure hits and the letters include a hot line number where the borrowers can obtain almost instant advice”

Does that mean that consumers’ loan information is being shared without their consents? Sounds link a privacy act violation to me.

Relate article. I want my arm frozen too.
http://gowest.blogs.fortune.cnn.com/2007/12/03/i-want-my-arm-rate-frozen-too/

[patientlywaiting]

” He said Hope Now is sending out the letters 120 days in advance of the resets so borrowers have plenty of time to act before foreclosure hits and the letters include a hot line number where the borrowers can obtain almost instant advice”

Does that mean that consumers’ loan information is being shared without their consents? Sounds link a privacy act violation to me.

Relate article. I want my arm frozen too.
http://gowest.blogs.fortune.cnn.com/2007/12/03/i-want-my-arm-rate-frozen-too/

[patientlywaiting]

” He said Hope Now is sending out the letters 120 days in advance of the resets so borrowers have plenty of time to act before foreclosure hits and the letters include a hot line number where the borrowers can obtain almost instant advice”

Does that mean that consumers’ loan information is being shared without their consents? Sounds link a privacy act violation to me.

Relate article. I want my arm frozen too.
http://gowest.blogs.fortune.cnn.com/2007/12/03/i-want-my-arm-rate-frozen-too/

[no_such_reality]

The last analyst I saw at a touch before 2PM talking with Bartiromo said they could save hopefully 1/3rd of the foreclosures.

She was the bullish one on the deal.

Now ask yourself if slowing the foreclosures by 1/3rd is going diddly in SoCal. It isn’t.

The analysts said the big problem they have is everybody that isn’t in jeopardy is calling wanting their rates frozen.

[no_such_reality]

The last analyst I saw at a touch before 2PM talking with Bartiromo said they could save hopefully 1/3rd of the foreclosures.

She was the bullish one on the deal.

Now ask yourself if slowing the foreclosures by 1/3rd is going diddly in SoCal. It isn’t.

The analysts said the big problem they have is everybody that isn’t in jeopardy is calling wanting their rates frozen.

[no_such_reality]

The last analyst I saw at a touch before 2PM talking with Bartiromo said they could save hopefully 1/3rd of the foreclosures.

She was the bullish one on the deal.

Now ask yourself if slowing the foreclosures by 1/3rd is going diddly in SoCal. It isn’t.

The analysts said the big problem they have is everybody that isn’t in jeopardy is calling wanting their rates frozen.

[no_such_reality]

The last analyst I saw at a touch before 2PM talking with Bartiromo said they could save hopefully 1/3rd of the foreclosures.

She was the bullish one on the deal.

Now ask yourself if slowing the foreclosures by 1/3rd is going diddly in SoCal. It isn’t.

The analysts said the big problem they have is everybody that isn’t in jeopardy is calling wanting their rates frozen.

[no_such_reality]

The last analyst I saw at a touch before 2PM talking with Bartiromo said they could save hopefully 1/3rd of the foreclosures.

She was the bullish one on the deal.

Now ask yourself if slowing the foreclosures by 1/3rd is going diddly in SoCal. It isn’t.

The analysts said the big problem they have is everybody that isn’t in jeopardy is calling wanting their rates frozen.

[cr]

Somewhere in all the talk of Paulson’s plan it was whispered that these bailout efforts would be OPTIONAL for the lenders.

Has anyone else heard that? The government can’t force lenders to lower rates and lose money – we’re not that far socialist yet.

So at their discretion banks can help people stay in homes they can’t afford for a little while longer while their property value continues to decline until they are inevitably forced to sell, only later and at a lower price than if they sold at a loss today.

I read on Yahoo that the current 640,000 foreclosures (1 for every 500 Americans) is the highest in 30 years, and up to 2 million more are expected by 2009.

This hot air talk is little more than lip service for Wall Street.

[cr]

Somewhere in all the talk of Paulson’s plan it was whispered that these bailout efforts would be OPTIONAL for the lenders.

Has anyone else heard that? The government can’t force lenders to lower rates and lose money – we’re not that far socialist yet.

So at their discretion banks can help people stay in homes they can’t afford for a little while longer while their property value continues to decline until they are inevitably forced to sell, only later and at a lower price than if they sold at a loss today.

I read on Yahoo that the current 640,000 foreclosures (1 for every 500 Americans) is the highest in 30 years, and up to 2 million more are expected by 2009.

This hot air talk is little more than lip service for Wall Street.

[cr]

Somewhere in all the talk of Paulson’s plan it was whispered that these bailout efforts would be OPTIONAL for the lenders.

Has anyone else heard that? The government can’t force lenders to lower rates and lose money – we’re not that far socialist yet.

So at their discretion banks can help people stay in homes they can’t afford for a little while longer while their property value continues to decline until they are inevitably forced to sell, only later and at a lower price than if they sold at a loss today.

I read on Yahoo that the current 640,000 foreclosures (1 for every 500 Americans) is the highest in 30 years, and up to 2 million more are expected by 2009.

This hot air talk is little more than lip service for Wall Street.

[cr]

Somewhere in all the talk of Paulson’s plan it was whispered that these bailout efforts would be OPTIONAL for the lenders.

Has anyone else heard that? The government can’t force lenders to lower rates and lose money – we’re not that far socialist yet.

So at their discretion banks can help people stay in homes they can’t afford for a little while longer while their property value continues to decline until they are inevitably forced to sell, only later and at a lower price than if they sold at a loss today.

I read on Yahoo that the current 640,000 foreclosures (1 for every 500 Americans) is the highest in 30 years, and up to 2 million more are expected by 2009.

This hot air talk is little more than lip service for Wall Street.

[Author]

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