tag:blogger.com,1999:blog-3758330678390419129.post8192284196871656565..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Obama's Plan to Kill the Mortgage IndustryRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3758330678390419129.post-64255733773549099912010-02-26T10:15:48.189-05:002010-02-26T10:15:48.189-05:00If this comes to reality, Banks that are on the ro...If this comes to reality, Banks that are on the ropes now, with a battered loan book (credit quality), will get absolutely hosed. <br /><br />What good is having collateral? For that matter, what good is signing a contract?<br /><br />It's dumbass proposals like these that dim my hopes for the future.Mike in Alaskahttps://www.blogger.com/profile/07138597511503404254noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-44561268632674281112010-02-26T05:58:01.303-05:002010-02-26T05:58:01.303-05:00The Obama administration may expand efforts to eas...The Obama administration may expand efforts to ease the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected by the government’s Home Affordable Modification Program.<br /><br />The proposal, reviewed by lenders last week on a White House conference call, <br /><br /><b>“prohibits referral to foreclosure until borrower is evaluated and found Unknownhttps://www.blogger.com/profile/18136688628745084797noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-5859436459259216352010-02-26T05:52:58.965-05:002010-02-26T05:52:58.965-05:00the better question is:
Who in their right minds.....the better question is:<br />Who in their right minds....<br />are going to make mortgage PAYMENTS?Unknownhttps://www.blogger.com/profile/18136688628745084797noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-26860236380224730552010-02-25T23:16:05.285-05:002010-02-25T23:16:05.285-05:00The other thing you're not considering is that...The other thing you're not considering is that the loan modification program you're talking about is likely to modify about 1% of home loans... so the current holders of the toxic mortgages will still greatly benefit from any loss-share agreements they have with the FDIC.Matthew Kaneynoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-8287865758731203462010-02-25T20:19:24.278-05:002010-02-25T20:19:24.278-05:00You're not looking at this myopically enough. ...You're not looking at this myopically enough. This gives incentives for more people to buy homes they cannot afford, temporarily boosting numbers before the '10 and '12 elections.<br /><br />Why deal with the problems yourself when you can pass them on to the next president?<br /><br />The rug already has so much dirt swept under it they'll need to call in archaeologists to get Unknownhttps://www.blogger.com/profile/07817709045588782308noreply@blogger.com