Forum Replies Created
-
AuthorPosts
-
October 9, 2008 at 6:39 AM in reply to: McCain’s bailout plan to stop falling home values and foreclosures #284118October 9, 2008 at 6:39 AM in reply to: McCain’s bailout plan to stop falling home values and foreclosures #284144
Huckleberry
ParticipantMcCain is a bonehead!
I am voting 3rd party…
October 9, 2008 at 6:39 AM in reply to: McCain’s bailout plan to stop falling home values and foreclosures #284162ParticipantMcCain is a bonehead!
I am voting 3rd party…
October 9, 2008 at 6:39 AM in reply to: McCain’s bailout plan to stop falling home values and foreclosures #284171ParticipantMcCain is a bonehead!
I am voting 3rd party…
ParticipantI agree and will vote third party!
ParticipantI agree and will vote third party!
ParticipantI agree and will vote third party!
ParticipantI agree and will vote third party!
ParticipantI agree and will vote third party!
ParticipantLOL. I have a funny feeling this won’t kick start anything…
But you’re right, it’s a step in the right direction to resetting sellers unrealistic valuations/expectations.
ParticipantLOL. I have a funny feeling this won’t kick start anything…
But you’re right, it’s a step in the right direction to resetting sellers unrealistic valuations/expectations.
ParticipantLOL. I have a funny feeling this won’t kick start anything…
But you’re right, it’s a step in the right direction to resetting sellers unrealistic valuations/expectations.
ParticipantLOL. I have a funny feeling this won’t kick start anything…
But you’re right, it’s a step in the right direction to resetting sellers unrealistic valuations/expectations.
ParticipantLOL. I have a funny feeling this won’t kick start anything…
But you’re right, it’s a step in the right direction to resetting sellers unrealistic valuations/expectations.
ParticipantMy thought on this is BofA announced it will do this because of the litigation and settlement. I’m sure they figure if they state they are voluntarily doing this, they will not be mandated by the govt to do it.
It’s really hard for me to believe the banks would just take the hit (write-off) completely, and just expunge the borrower of the original obligation and lost loan value.
I would speculate they will minimally lower the principal loan amount (from original) and work some sort of deal where they get compensation on the end of the loan. Maybe making new mortgages a 40 or 50 year and the interest fixed a 6.
Here is an article by MM related to how CW/BofA is structuring their mortgage modifications:
http://mrmortgage.ml-implode.com/2008/09/03/countrywidebofa-conspire-against-a-borrower-shareholders/I’ll bet the new program is along these lines…
-
AuthorPosts