Comments on: Cities Working Against Themselves in the Battle Against Foreclosures http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/ Learn, Network, Invest Wed, 03 Dec 2008 06:40:59 +0000 http://wordpress.org/?v=2.6.5 By: Clifton Pape http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57055 Clifton Pape Mon, 26 May 2008 20:53:07 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57055 Very informative post! Look forward to following and hearing about other cities such as Cleveland, Baltimore etc. Very informative post! Look forward to following and hearing about other cities such as Cleveland, Baltimore etc.

]]> By: Mark McGlothlin http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57038 Mark McGlothlin Mon, 26 May 2008 14:18:15 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57038 Thomas Johnson - what an amazing comment (first paragraph above) in just two sentences. The path to a ghost town seems inevitable given the thinking in these cities. It's time for some creative, cooperative solutions, not inane legal actions. Thomas Johnson - what an amazing comment (first paragraph above) in just two sentences. The path to a ghost town seems inevitable given the thinking in these cities. It’s time for some creative, cooperative solutions, not inane legal actions.

]]> By: Jim Watkins http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57032 Jim Watkins Mon, 26 May 2008 02:53:02 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57032 Anyone wanting to get an inside look at north Minneapolis... Here is a link to a blog that is written by a friend of mine, John Hoff AKA "Johnny Northside." He does a great job of documenting the day to day struggles experienced in north Minneapolis. http://adventuresofjohnnynorthside.blogspot.com Anyone wanting to get an inside look at north Minneapolis…
Here is a link to a blog that is written by a friend of mine, John Hoff AKA “Johnny Northside.” He does a great job of documenting the day to day struggles experienced in north Minneapolis.

http://adventuresofjohnnynorthside.blogspot.com

]]> By: Jim Watkins http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57031 Jim Watkins Mon, 26 May 2008 02:46:21 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57031 Thomas Johnson: I think your idea explained in the first paragraph is genius. That sort of thinking is what our industry could use more of. Honestly, I have to admit that what you said in the second paragraph, sailed right over my head. lol Thomas Johnson:

I think your idea explained in the first paragraph is genius. That sort of thinking is what our industry could use more of.

Honestly, I have to admit that what you said in the second paragraph, sailed right over my head. lol

]]> By: Thomas Johnson http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57029 Thomas Johnson Mon, 26 May 2008 02:23:08 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57029 If the cities are foolish enough to pursue this lawsuit intimidation, all the lenders have to do is stop paying the property taxes, toss the keys to the city, and wish them well. The city gets the house, the school district gets a lower aggregate tax base and lower tax receipts, and the path to ghost town is assured. In the mean time the city pension plan is stuffed full of unmarketable formerly AAA mortgage backed securities which makes the pension plan insolvent requiring a tax increase on whom?-the ghost town. If the cities are foolish enough to pursue this lawsuit intimidation, all the lenders have to do is stop paying the property taxes, toss the keys to the city, and wish them well. The city gets the house, the school district gets a lower aggregate tax base and lower tax receipts, and the path to ghost town is assured.

In the mean time the city pension plan is stuffed full of unmarketable formerly AAA mortgage backed securities which makes the pension plan insolvent requiring a tax increase on whom?-the ghost town.

]]> By: James Connery http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57025 James Connery Sun, 25 May 2008 16:07:17 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57025 Yes its true! Are you in the industry and or keeping up with the banking industry new's? Where are you located and what is the situation in which a TON of people you know are getting loans? What type of loans? I am suprised you don't know that there is a lending crisis? Yes its true! Are you in the industry and or keeping up with the banking industry new’s? Where are you located and what is the situation in which a TON of people you know are getting loans? What type of loans?
I am suprised you don’t know that there is a lending crisis?

]]> By: versicherungen http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57020 versicherungen Sun, 25 May 2008 08:33:38 +0000 http://www.biggerpockets.com/renewsblog/2008/05/24/cities-working-against-themselves-in-the-battle-against-foreclosures/#comment-57020 Thanks for sharing this great post.I think people need money and they need loan too in crises. Thanks for sharing this great post.I think people need money and they need loan too in crises.

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