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

[David J]

I fully understand the issues with doing something along those lines, I just feel that would be the most populist of plans and also the one that would make me the most upset and thus the one that they will actually enact.

[Huckleberry]

Agreed, if they pass legislation to that degree every homeowner that is upside down (or even close) in their mortgage, would stop making payments and do whatever it took to prove they couldn’t afford it. Solely to get their loan amount decreased. Even if it meant damaging their credit.

This would be the ultimate injustice to the American homeowner that has been responsibly servicing their loan, and to those that have been patiently waiting for prices to come back to norms.

[Huckleberry]

Agreed, if they pass legislation to that degree every homeowner that is upside down (or even close) in their mortgage, would stop making payments and do whatever it took to prove they couldn’t afford it. Solely to get their loan amount decreased. Even if it meant damaging their credit.

This would be the ultimate injustice to the American homeowner that has been responsibly servicing their loan, and to those that have been patiently waiting for prices to come back to norms.

[Huckleberry]

Agreed, if they pass legislation to that degree every homeowner that is upside down (or even close) in their mortgage, would stop making payments and do whatever it took to prove they couldn’t afford it. Solely to get their loan amount decreased. Even if it meant damaging their credit.

This would be the ultimate injustice to the American homeowner that has been responsibly servicing their loan, and to those that have been patiently waiting for prices to come back to norms.

[Huckleberry]

Agreed, if they pass legislation to that degree every homeowner that is upside down (or even close) in their mortgage, would stop making payments and do whatever it took to prove they couldn’t afford it. Solely to get their loan amount decreased. Even if it meant damaging their credit.

This would be the ultimate injustice to the American homeowner that has been responsibly servicing their loan, and to those that have been patiently waiting for prices to come back to norms.

[Huckleberry]

Agreed, if they pass legislation to that degree every homeowner that is upside down (or even close) in their mortgage, would stop making payments and do whatever it took to prove they couldn’t afford it. Solely to get their loan amount decreased. Even if it meant damaging their credit.

This would be the ultimate injustice to the American homeowner that has been responsibly servicing their loan, and to those that have been patiently waiting for prices to come back to norms.

[kev374]

ok, I just watched the segment on CNN Money about this plan and this guy is saying the same thing was done in the early 90s and the government actually made money because it sold off the assets for more than they bid for it. How can this be even possible? 1992 – 97 the market was declining, everyone lost money but the US government made money by AUCTIONING off properties???

[kev374]

ok, I just watched the segment on CNN Money about this plan and this guy is saying the same thing was done in the early 90s and the government actually made money because it sold off the assets for more than they bid for it. How can this be even possible? 1992 – 97 the market was declining, everyone lost money but the US government made money by AUCTIONING off properties???

[kev374]

ok, I just watched the segment on CNN Money about this plan and this guy is saying the same thing was done in the early 90s and the government actually made money because it sold off the assets for more than they bid for it. How can this be even possible? 1992 – 97 the market was declining, everyone lost money but the US government made money by AUCTIONING off properties???

[kev374]

ok, I just watched the segment on CNN Money about this plan and this guy is saying the same thing was done in the early 90s and the government actually made money because it sold off the assets for more than they bid for it. How can this be even possible? 1992 – 97 the market was declining, everyone lost money but the US government made money by AUCTIONING off properties???

[kev374]

ok, I just watched the segment on CNN Money about this plan and this guy is saying the same thing was done in the early 90s and the government actually made money because it sold off the assets for more than they bid for it. How can this be even possible? 1992 – 97 the market was declining, everyone lost money but the US government made money by AUCTIONING off properties???

[BGinRB]

CR @ CalculatedRisk had a post about it an hour ago.

[BGinRB]

CR @ CalculatedRisk had a post about it an hour ago.

[BGinRB]

CR @ CalculatedRisk had a post about it an hour ago.

[BGinRB]

CR @ CalculatedRisk had a post about it an hour ago.

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