So now the Feds are gonna clear out the Banks REO’s????

[sd_bear]

[quote=CA renter]Actually, if principal amounts are reduced, that should be noted in public records, and it should be mandated that future appraisals use these as comps.

After all, that was the real purchase price of the house, not the original, artificially-inflated price. The “written-down” price is the actual price the buyer could afford; therefore, it is the true sales price. [/quote]

This was my belief as well. I think principal reductions would really accelerate the decline since it automatically cuts the value to whatever an actual borrower could afford. I can’t imagine this not being used in appraisals.

In the end I really don’t think it matters what happens with the government and all these plans. Prices will fall to levels that people can afford with fixed mortgages. Maybe it’ll take 15 years, maybe 3. But it has to happen. There is no way around it.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[wannabe2077]

I know people who are making $100k+ salaries who plan to default on their homes because it is worth a lot less than what they bought. In one case the person plans to rent it out for 9 months while they default on the mortgage payment. They are planning to move out of the state for a new job.

[Mayer]

Saw this on CR this morning, and you all should see this. It appears that we are bailing out FOREIGN financial institutions as well!!! Seriously??? This is getting ridiculous. They’re taking assets that was originated up to this month. Why are they taking assets as of this month when these banks should have known by now not to issue them any longer? ABSOLUTELY RIDICULOUS.
http://www.reuters.com/article/ousiv/idUSN2148303920080921

Paragraph three:
http://www.treas.gov/press/releases/hp1150.htm

On top of that, check out this Lehman news. $2.5 billion bonus earmarked for “key” employees for running the company into the ground, while there is not money left to pay staff in its foreign operations. SERIOUSLY???
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance

[Mayer]

Saw this on CR this morning, and you all should see this. It appears that we are bailing out FOREIGN financial institutions as well!!! Seriously??? This is getting ridiculous. They’re taking assets that was originated up to this month. Why are they taking assets as of this month when these banks should have known by now not to issue them any longer? ABSOLUTELY RIDICULOUS.
http://www.reuters.com/article/ousiv/idUSN2148303920080921

Paragraph three:
http://www.treas.gov/press/releases/hp1150.htm

On top of that, check out this Lehman news. $2.5 billion bonus earmarked for “key” employees for running the company into the ground, while there is not money left to pay staff in its foreign operations. SERIOUSLY???
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance

[Mayer]

Saw this on CR this morning, and you all should see this. It appears that we are bailing out FOREIGN financial institutions as well!!! Seriously??? This is getting ridiculous. They’re taking assets that was originated up to this month. Why are they taking assets as of this month when these banks should have known by now not to issue them any longer? ABSOLUTELY RIDICULOUS.
http://www.reuters.com/article/ousiv/idUSN2148303920080921

Paragraph three:
http://www.treas.gov/press/releases/hp1150.htm

On top of that, check out this Lehman news. $2.5 billion bonus earmarked for “key” employees for running the company into the ground, while there is not money left to pay staff in its foreign operations. SERIOUSLY???
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance

[Mayer]

Saw this on CR this morning, and you all should see this. It appears that we are bailing out FOREIGN financial institutions as well!!! Seriously??? This is getting ridiculous. They’re taking assets that was originated up to this month. Why are they taking assets as of this month when these banks should have known by now not to issue them any longer? ABSOLUTELY RIDICULOUS.
http://www.reuters.com/article/ousiv/idUSN2148303920080921

Paragraph three:
http://www.treas.gov/press/releases/hp1150.htm

On top of that, check out this Lehman news. $2.5 billion bonus earmarked for “key” employees for running the company into the ground, while there is not money left to pay staff in its foreign operations. SERIOUSLY???
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance

[Author]

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