Comments on: Can YOU Help Fix The Mortgage Mess? Yes you can! http://www.biggerpockets.com/renewsblog/2008/07/30/can-you-help-fix-the-mortgage-mess-yes-you-can/ Learn, Network, Invest Mon, 23 Nov 2009 13:13:51 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: John davis http://www.biggerpockets.com/renewsblog/2008/07/30/can-you-help-fix-the-mortgage-mess-yes-you-can/comment-page-1/#comment-60816 John davis Fri, 24 Oct 2008 09:25:21 +0000 http://www.biggerpockets.com/renewsblog/?p=1135#comment-60816 It is true that more and more foreclosed houses are now on the market. It is also true that fewer and fewer people can afford to buy them because credit is so damn tight these days. In any case, I think one should consider carefully before taking any new loan. It is true that more and more foreclosed houses are now on the market. It is also true that fewer and fewer people can afford to buy them because credit is so damn tight these days.

In any case, I think one should consider carefully before taking any new loan.

]]> By: Colin - Florida Property http://www.biggerpockets.com/renewsblog/2008/07/30/can-you-help-fix-the-mortgage-mess-yes-you-can/comment-page-1/#comment-59029 Colin - Florida Property Mon, 04 Aug 2008 16:20:21 +0000 http://www.biggerpockets.com/renewsblog/?p=1135#comment-59029 The bank issue must be like a red rag to a bull for many people (including me!). It's ironic that banks ignored the allegedly stringent investment rules they lecture their clients on only to find they have a giant mess to sort out - and as a result, the market is paralyzed in many respects. The bank issue must be like a red rag to a bull for many people (including me!). It’s ironic that banks ignored the allegedly stringent investment rules they lecture their clients on only to find they have a giant mess to sort out – and as a result, the market is paralyzed in many respects.

]]> By: Tammy Winner http://www.biggerpockets.com/renewsblog/2008/07/30/can-you-help-fix-the-mortgage-mess-yes-you-can/comment-page-1/#comment-58888 Tammy Winner Thu, 31 Jul 2008 18:48:02 +0000 http://www.biggerpockets.com/renewsblog/?p=1135#comment-58888 I'm not sure speculation influence is a myth. Perhaps its influence has been exaggerated by some, but they do play a role...as does demand. Without speculation, the prices could not have possibly risen as quickly and as much as they did. I’m not sure speculation influence is a myth. Perhaps its influence has been exaggerated by some, but they do play a role…as does demand. Without speculation, the prices could not have possibly risen as quickly and as much as they did.

]]> By: Denton Ward http://www.biggerpockets.com/renewsblog/2008/07/30/can-you-help-fix-the-mortgage-mess-yes-you-can/comment-page-1/#comment-58884 Denton Ward Thu, 31 Jul 2008 16:11:14 +0000 http://www.biggerpockets.com/renewsblog/?p=1135#comment-58884 No one knows how long it will take the banks to lower their credit barriers, and I wouldn't think anytime soon. I am out in the East Bay of CA, and the number of short sales is almost equal to the number of foreclosures. So we aren't at the bottom yet; and the banks are in store for even more hurt (if you can really call it that, considering they made a killing in years prior). In time, and when the economy picks up, it would seem to make sense that lending guidelines may change and become more favorable for home buyers. FHA has already done that, and well qualified buyers still don't have a problem buying. Plus, most of those who purchased with the loose guidelines should never have bought in the first place. No one knows how long it will take the banks to lower their credit barriers, and I wouldn’t think anytime soon. I am out in the East Bay of CA, and the number of short sales is almost equal to the number of foreclosures. So we aren’t at the bottom yet; and the banks are in store for even more hurt (if you can really call it that, considering they made a killing in years prior). In time, and when the economy picks up, it would seem to make sense that lending guidelines may change and become more favorable for home buyers. FHA has already done that, and well qualified buyers still don’t have a problem buying. Plus, most of those who purchased with the loose guidelines should never have bought in the first place.

]]> By: Cliff Pape http://www.biggerpockets.com/renewsblog/2008/07/30/can-you-help-fix-the-mortgage-mess-yes-you-can/comment-page-1/#comment-58872 Cliff Pape Thu, 31 Jul 2008 02:55:55 +0000 http://www.biggerpockets.com/renewsblog/?p=1135#comment-58872 Good point Charles, the sharp decrease in demand is finally affecting oil prices rather than the myth that speculators are driving prices upward…as for banks the current back stop (i.e. $300 billion FHA insured loans) that congress has just put on their falling assets should loosen up lending. Good point Charles, the sharp decrease in demand is finally affecting oil prices rather than the myth that speculators are driving prices upward…as for banks the current back stop (i.e. $300 billion FHA insured loans) that congress has just put on their falling assets should loosen up lending.

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