jdett

Why a Revamped Housing Plan Should Be Government's First Priority

2 things to add


1. The reason that over half of the modified loans have defualted is that the lenders are not modifying to help the homeowner, agian are only geared to help the lender, in alot odf cases the monthly payments have gone up on the so called modified loans ( go to loansae.org )


2. The low rates are good for the homwowners who are not underwater on their homes. If you have equity( who determines that in a declining market) and you can aford the pmt, you can rerfi or sell. The rest do not have that option.

ooops. one more point.
I believe "Walking Away" will be on the rise next year when people realize that they cannot handle the stress any no longer want to put money into a sinking ship (bad investment).