Comments on: The Senate & The Housing Rescue Plan: Christmas in July?

By: memchee

memchee — Sat, 28 Jun 2008 22:52:44 +0000

I really think the only true way to fix this mess…is to allow the mortgage market correct itself.

A lot of homes were/are overappraised, financed by greedy bankers, and taken on by uneducated buyers who didn’t have a hint of what they were getting themselves into.

Oh, and I do believe that one of these big U.S. banks will fail by the end of 2008.

By: colin

colin — Fri, 27 Jun 2008 17:46:57 +0000

The whole idea is just a political shambles. How can it ever be fair and reasonable to the millions who paid their mortgages on time, despite hardship in some cases, if their tax dollars go to those who didn’t? Whatever happened to personal responsibility?

By: Peter

Peter — Wed, 25 Jun 2008 17:45:02 +0000

I have to agree with Terry. With this business, better yet, in any business, being creative pays off dividends. Real Estate Investors are very creative people and will make this work.

Peter

By: Matt D

Matt D — Wed, 25 Jun 2008 16:38:08 +0000

do you think lenders will be willing to participate? does that mean that they anticipate that the market is likely to push prices below the deal the government is offering?

is this the best way to repopulate houses? is that the goal that needs to be first addressed?

sorry for the multitude of questions, but am interested in these types of issues.

thanks!

By: Terry Wygal

Terry Wygal — Wed, 25 Jun 2008 14:35:40 +0000

I think this would be an easy thing to deal with for investors. We can create some sort of creative solution for the homeowner in a Subject To format that is a better offer for future profits than what the government will offer.