scotty1560

Foreclosure Moratoriums: It's Time to Get Real

Many of you folks think everybody buying was flippers or using no money
down. Quite a few people put down 10--20% and in areas like South Florida
see their value down 60+%. So on a 500k home with 100k down, the home
is worth 200k now, and you still owe 400k. At least 200k negative on a home
you bought 3 years ago.

My thinking is to streamline and get the people out of an unmanagable
situation. These buyers have been slaughtered in masses, say 7-8 years
worth of buyers.

If they are working re-write the loan with a new appraised value, or get
them out and auction off the house for expediency. Foreclosures and short
sales are taking way to long and further depressing the situation. Short
sales are a joke, banks take months to respond, squeeze the distressed
seller for any remaining assets like retirement accounts, and have turned
off buyers from this long arduous process.

Wall Street Breakfast: Must-Know News

axelrod is so correct..
major major missed opportunity and so far Obama is missing the ball
at every angle...appointees, policy.

Obama has only a few swings at the plate before the money runs dry
and the window of opportunity vanishes....government refuses to get
serious about regulation and has yet to come up with a strategy that
makes any sense.... all paths lead down.