Comments on: When Will We Get Real About How To Fix The Foreclosure Problem? Another Record Set!!

By: Joshua Dorkin

Joshua Dorkin — Wed, 19 Aug 2009 02:41:18 +0000

Ben – Don’t be crazy, man! It’s not their fault. Why would the people who don’t pay their bills be responsible for anything?

By: Ben

Ben — Tue, 18 Aug 2009 22:37:57 +0000

Now I might just be crazy but, how about we blame all the dead beats who aren’t paying the money that they owe!?!

By: Brian Gibbons

Brian Gibbons — Mon, 17 Aug 2009 21:52:03 +0000

Who is to blame? I feel if the A.R.M. market did not exist, and people did not have these “resets” happening to their budgets in these uncertain employment times, there would be less foreclosures.

“Liar loans” and other dubious financial underwriting created the foreclosure mess.

So, a possible solution:

Appraise the properties at todays’ prices, and give everyone a fair shot at a 30 yr FIXED rate.

If you can not afford that rate, you are allowed to rent the house at market rent plus be responsible for up keep maintenance.

If you do that, you will have an option to purchase over the next 10 yrs with a 10% down payment (have some skin in the game).

Neighborhoods would not deteriorate as quickly with this plan, but property taxes would not be paid to have roads and schools in good shape.

All you have to to do is look at Cananda, UK, AU, and NZ; their rate of default is low to responsible underwriting (bigger downpayments) and prudent qualifications of borrowing.

Brian Gibbons
.-= Brian Gibbons´s last blog ..URGENT NOTICE: Fraud Alert – Phony lawsuits’ didn’t help homeowners =-.

By: Elizabeth

Elizabeth — Mon, 17 Aug 2009 21:47:17 +0000

The foreclosure crisis will not be fixed until housing prices fall to where incomes can afford them. UNTIL THEN, all that can be done is artificial manipulation of the market which caused the bubble to begin with.

By: Jason

Jason — Mon, 17 Aug 2009 20:07:07 +0000

Don’t blame the president… blame congress. They are the ones speaking to the bank lobby and getting campaign donations from the banks. Look it up!

By: Tyler

Tyler — Mon, 17 Aug 2009 17:07:42 +0000

There are plans in place to get this taken care of, but unfortunately the losing party is so angry that they have lost majority that they are spending all of their efforts trying to get power back, rather than help move the country forward.

-Tyler

By: Dick Rosen

Dick Rosen — Mon, 17 Aug 2009 04:35:44 +0000

I really don’t think that our current president has a clue as to how he can fix anything.