Project Lifeline

[Portlock]

Another bailout attempt:

http://www.cnn.com/2008/POLITICS/02/12/foreclosures/index.html

Seriously, what will granting an extra 30 days remedy?

[sd_bear]

If nothing else it’ll at least give the banks time to work through a lot of the foreclosures that have been piling up.

As far as the housing bust goes – if they keep people in homes they can’t afford by lowering the rates or freezing them it’ll just drag this out even longer. Not to mention piss a lot of people off who didn’t miss payments and had a fixed rate that is higher than what loans will be frozen at. This plan really disgusts me.

Won’t this raise interest rates on new loans since now there is added risk?

[patientlywaiting]

sd_bear wrote:
” Won’t this raise interest rates on new loans since now there is added risk?”
—

Absolutely. That’s what Hillary plan for freezing interest rates and putting a moratorium on foreclosures was criticized for.

http://money.cnn.com/2008/02/12/real_estate/foreclosure_freeze/index.htm?postversion=2008021212

I looks to me like the banks are so innundated with foreclosure that they can’t process them fast enough. As we’ve seen from the numbers, the foreclosures are exceeding sales.

Businesses are never benevolent; the mighty Dollar always rules. Banks are just looking for ways to turn lemons into lemon juice and then come out smelling like a rose.

[patientlywaiting]

Also, I don’t think this will help anyone. People who are already about to face foreclosure get 30 days more. Wow! That’s so magnanimous of the banks!!

In reality, those FBs are better off to walk-away rather than making a single additional payment to the bank.

[Bane]

The whole thing pisses me off. I hate anything that rewards stupidity. I sat on the sideline for the last three years knowing that I could not afford a 700 or 800K home loan once the ARM reset. I was hoping that a return to sane values would help me be a homeowner again, but this will just delay that goal even more.

There are plenty of people like myself who have been waiting for values to return to normal. As a resukt, if the government would just leave it alone, the market will pick back up and the REO homes will sell again, just at realistic values that people can actually afford the payment on.

[Bane]

The whole thing pisses me off. I hate anything that rewards stupidity. I sat on the sideline for the last three years knowing that I could not afford a 700 or 800K home loan once the ARM reset. I was hoping that a return to sane values would help me be a homeowner again, but this will just delay that goal even more.

There are plenty of people like myself who have been waiting for values to return to normal. As a resukt, if the government would just leave it alone, the market will pick back up and the REO homes will sell again, just at realistic values that people can actually afford the payment on.

[Bane]

The whole thing pisses me off. I hate anything that rewards stupidity. I sat on the sideline for the last three years knowing that I could not afford a 700 or 800K home loan once the ARM reset. I was hoping that a return to sane values would help me be a homeowner again, but this will just delay that goal even more.

There are plenty of people like myself who have been waiting for values to return to normal. As a resukt, if the government would just leave it alone, the market will pick back up and the REO homes will sell again, just at realistic values that people can actually afford the payment on.

[Bane]

The whole thing pisses me off. I hate anything that rewards stupidity. I sat on the sideline for the last three years knowing that I could not afford a 700 or 800K home loan once the ARM reset. I was hoping that a return to sane values would help me be a homeowner again, but this will just delay that goal even more.

There are plenty of people like myself who have been waiting for values to return to normal. As a resukt, if the government would just leave it alone, the market will pick back up and the REO homes will sell again, just at realistic values that people can actually afford the payment on.

[Bane]

The whole thing pisses me off. I hate anything that rewards stupidity. I sat on the sideline for the last three years knowing that I could not afford a 700 or 800K home loan once the ARM reset. I was hoping that a return to sane values would help me be a homeowner again, but this will just delay that goal even more.

There are plenty of people like myself who have been waiting for values to return to normal. As a resukt, if the government would just leave it alone, the market will pick back up and the REO homes will sell again, just at realistic values that people can actually afford the payment on.

[patientlywaiting]

Also, I don’t think this will help anyone. People who are already about to face foreclosure get 30 days more. Wow! That’s so magnanimous of the banks!!

In reality, those FBs are better off to walk-away rather than making a single additional payment to the bank.

[patientlywaiting]

Also, I don’t think this will help anyone. People who are already about to face foreclosure get 30 days more. Wow! That’s so magnanimous of the banks!!

In reality, those FBs are better off to walk-away rather than making a single additional payment to the bank.

[patientlywaiting]

Also, I don’t think this will help anyone. People who are already about to face foreclosure get 30 days more. Wow! That’s so magnanimous of the banks!!

In reality, those FBs are better off to walk-away rather than making a single additional payment to the bank.

[patientlywaiting]

Also, I don’t think this will help anyone. People who are already about to face foreclosure get 30 days more. Wow! That’s so magnanimous of the banks!!

In reality, those FBs are better off to walk-away rather than making a single additional payment to the bank.

[patientlywaiting]

sd_bear wrote:
” Won’t this raise interest rates on new loans since now there is added risk?”
—

Absolutely. That’s what Hillary plan for freezing interest rates and putting a moratorium on foreclosures was criticized for.

http://money.cnn.com/2008/02/12/real_estate/foreclosure_freeze/index.htm?postversion=2008021212

I looks to me like the banks are so innundated with foreclosure that they can’t process them fast enough. As we’ve seen from the numbers, the foreclosures are exceeding sales.

Businesses are never benevolent; the mighty Dollar always rules. Banks are just looking for ways to turn lemons into lemon juice and then come out smelling like a rose.

[patientlywaiting]

sd_bear wrote:
” Won’t this raise interest rates on new loans since now there is added risk?”
—

Absolutely. That’s what Hillary plan for freezing interest rates and putting a moratorium on foreclosures was criticized for.

http://money.cnn.com/2008/02/12/real_estate/foreclosure_freeze/index.htm?postversion=2008021212

I looks to me like the banks are so innundated with foreclosure that they can’t process them fast enough. As we’ve seen from the numbers, the foreclosures are exceeding sales.

Businesses are never benevolent; the mighty Dollar always rules. Banks are just looking for ways to turn lemons into lemon juice and then come out smelling like a rose.

[patientlywaiting]

sd_bear wrote:
” Won’t this raise interest rates on new loans since now there is added risk?”
—

Absolutely. That’s what Hillary plan for freezing interest rates and putting a moratorium on foreclosures was criticized for.

http://money.cnn.com/2008/02/12/real_estate/foreclosure_freeze/index.htm?postversion=2008021212

I looks to me like the banks are so innundated with foreclosure that they can’t process them fast enough. As we’ve seen from the numbers, the foreclosures are exceeding sales.

Businesses are never benevolent; the mighty Dollar always rules. Banks are just looking for ways to turn lemons into lemon juice and then come out smelling like a rose.

[patientlywaiting]

sd_bear wrote:
” Won’t this raise interest rates on new loans since now there is added risk?”
—

Absolutely. That’s what Hillary plan for freezing interest rates and putting a moratorium on foreclosures was criticized for.

http://money.cnn.com/2008/02/12/real_estate/foreclosure_freeze/index.htm?postversion=2008021212

I looks to me like the banks are so innundated with foreclosure that they can’t process them fast enough. As we’ve seen from the numbers, the foreclosures are exceeding sales.

Businesses are never benevolent; the mighty Dollar always rules. Banks are just looking for ways to turn lemons into lemon juice and then come out smelling like a rose.

[sd_bear]

If nothing else it’ll at least give the banks time to work through a lot of the foreclosures that have been piling up.

As far as the housing bust goes – if they keep people in homes they can’t afford by lowering the rates or freezing them it’ll just drag this out even longer. Not to mention piss a lot of people off who didn’t miss payments and had a fixed rate that is higher than what loans will be frozen at. This plan really disgusts me.

Won’t this raise interest rates on new loans since now there is added risk?

[sd_bear]

If nothing else it’ll at least give the banks time to work through a lot of the foreclosures that have been piling up.

As far as the housing bust goes – if they keep people in homes they can’t afford by lowering the rates or freezing them it’ll just drag this out even longer. Not to mention piss a lot of people off who didn’t miss payments and had a fixed rate that is higher than what loans will be frozen at. This plan really disgusts me.

Won’t this raise interest rates on new loans since now there is added risk?

[sd_bear]

If nothing else it’ll at least give the banks time to work through a lot of the foreclosures that have been piling up.

As far as the housing bust goes – if they keep people in homes they can’t afford by lowering the rates or freezing them it’ll just drag this out even longer. Not to mention piss a lot of people off who didn’t miss payments and had a fixed rate that is higher than what loans will be frozen at. This plan really disgusts me.

Won’t this raise interest rates on new loans since now there is added risk?

[sd_bear]

If nothing else it’ll at least give the banks time to work through a lot of the foreclosures that have been piling up.

As far as the housing bust goes – if they keep people in homes they can’t afford by lowering the rates or freezing them it’ll just drag this out even longer. Not to mention piss a lot of people off who didn’t miss payments and had a fixed rate that is higher than what loans will be frozen at. This plan really disgusts me.

Won’t this raise interest rates on new loans since now there is added risk?

[Anonymous]

Seriously, what will granting an extra 30 days remedy?

Nada.

I seriously can’t see how 30 days is going to help the homeowner save the home.

[drunkle]

it’s an extra month of free rent. isn’t that nice?

[HappyHouseHunting]

Loansafe.org?….
Has anyone read what that is about? I guess they have a blog about how to negotiate with lenders for better terms if you are about to foreclose? Like you have all said, won’t that piss off people who are not in foreclosure and trying hard to stay in their homes? Or will it just keep the prices up for now and delay the inevitable?
HHH

[Mean Reversion]

This could work. When the postponement expires in 30 days. Initiate a new postponement of 30 days. Keep doing so until whichever comes sooner:

1) home prices begin rising again.

2) our sun burns out in which all life will cease to exist.

[Mean Reversion]

This could work. When the postponement expires in 30 days. Initiate a new postponement of 30 days. Keep doing so until whichever comes sooner:

1) home prices begin rising again.

2) our sun burns out in which all life will cease to exist.

[Mean Reversion]

This could work. When the postponement expires in 30 days. Initiate a new postponement of 30 days. Keep doing so until whichever comes sooner:

1) home prices begin rising again.

2) our sun burns out in which all life will cease to exist.

[Mean Reversion]

This could work. When the postponement expires in 30 days. Initiate a new postponement of 30 days. Keep doing so until whichever comes sooner:

1) home prices begin rising again.

2) our sun burns out in which all life will cease to exist.

[Mean Reversion]

This could work. When the postponement expires in 30 days. Initiate a new postponement of 30 days. Keep doing so until whichever comes sooner:

1) home prices begin rising again.

2) our sun burns out in which all life will cease to exist.

[HappyHouseHunting]

Loansafe.org?….
Has anyone read what that is about? I guess they have a blog about how to negotiate with lenders for better terms if you are about to foreclose? Like you have all said, won’t that piss off people who are not in foreclosure and trying hard to stay in their homes? Or will it just keep the prices up for now and delay the inevitable?
HHH

[HappyHouseHunting]

Loansafe.org?….
Has anyone read what that is about? I guess they have a blog about how to negotiate with lenders for better terms if you are about to foreclose? Like you have all said, won’t that piss off people who are not in foreclosure and trying hard to stay in their homes? Or will it just keep the prices up for now and delay the inevitable?
HHH

[HappyHouseHunting]

Loansafe.org?….
Has anyone read what that is about? I guess they have a blog about how to negotiate with lenders for better terms if you are about to foreclose? Like you have all said, won’t that piss off people who are not in foreclosure and trying hard to stay in their homes? Or will it just keep the prices up for now and delay the inevitable?
HHH

[HappyHouseHunting]

Loansafe.org?….
Has anyone read what that is about? I guess they have a blog about how to negotiate with lenders for better terms if you are about to foreclose? Like you have all said, won’t that piss off people who are not in foreclosure and trying hard to stay in their homes? Or will it just keep the prices up for now and delay the inevitable?
HHH

[drunkle]

it’s an extra month of free rent. isn’t that nice?

[drunkle]

it’s an extra month of free rent. isn’t that nice?

[drunkle]

it’s an extra month of free rent. isn’t that nice?

[drunkle]

it’s an extra month of free rent. isn’t that nice?

[Anonymous]

Seriously, what will granting an extra 30 days remedy?

Nada.

I seriously can’t see how 30 days is going to help the homeowner save the home.

[Anonymous]

Seriously, what will granting an extra 30 days remedy?

Nada.

I seriously can’t see how 30 days is going to help the homeowner save the home.

[Anonymous]

Seriously, what will granting an extra 30 days remedy?

Nada.

I seriously can’t see how 30 days is going to help the homeowner save the home.

[Anonymous]

Seriously, what will granting an extra 30 days remedy?

Nada.

I seriously can’t see how 30 days is going to help the homeowner save the home.

[bubba99]

Aside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.

[Ash Housewares]

Why did the banks need to “team up” to do this?

[patientlywaiting]

Considering all the foreclosure postponements that we’re seeing in practice, the Banks were already doing what they just announced.

This announcement is lemon juice out of lemons.

[patientlywaiting]

Considering all the foreclosure postponements that we’re seeing in practice, the Banks were already doing what they just announced.

This announcement is lemon juice out of lemons.

[patientlywaiting]

Considering all the foreclosure postponements that we’re seeing in practice, the Banks were already doing what they just announced.

This announcement is lemon juice out of lemons.

[patientlywaiting]

Considering all the foreclosure postponements that we’re seeing in practice, the Banks were already doing what they just announced.

This announcement is lemon juice out of lemons.

[patientlywaiting]

Considering all the foreclosure postponements that we’re seeing in practice, the Banks were already doing what they just announced.

This announcement is lemon juice out of lemons.

[Ash Housewares]

Why did the banks need to “team up” to do this?

[Ash Housewares]

Why did the banks need to “team up” to do this?

[Ash Housewares]

Why did the banks need to “team up” to do this?

[Ash Housewares]

Why did the banks need to “team up” to do this?

[bubba99]

Aside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.

[bubba99]

Aside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.

[bubba99]

Aside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.

[bubba99]

Aside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.

[Author]

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