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Can Our Government Really Help Fix the Foreclosure Crisis??

Criticized for not doing enough to stave off foreclosures, the White House seems prepped to put on a full-court press in dealing with the housing crisis.View the Entire Article Here

Should we expect our government to step in on the current foreclosure crisis? Or should we simply let the markets and capitalism work the problem out on it's own? Many believe that the government should step in however I'm curious as to what they really CAN do! Personally if think the current administration is simply speaking for the sake of telling people what they would like to hear.

The fact is that our government has been unable to successfully manage any big task. What are your thoughts on the government stepping in? No matter what they do I say it will be interesting to watch the attempt.

www.JasonWheelersLoans.com & Real Estate Investing Education

Posted by Jason Wheeler on 01/03/2008 10:15 PM

Comments (8)

jason wheeler, walnut creek, concord, pleasant hill, foreclosure crisis, credit crunch, nouveau riche, jasonwheelersloans

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8 Comments on Can Our Government Really Help Fix the Foreclosure Crisis??

Market forces should take care of it eventually but we are in such a unique situation that without some form of government intervention the impact on the whole world economy could be in trouble.

01/03/2008 10:26 PM

by Graham Holmes - Yucaipa Hemet REO Homes (Reviron Realty - Realtor e-Pro Bank Owned Specialists)

Jason,

From the start, if the Feds had enforced the existing laws we wouldn't be in this mess now. The current administration is just playing politics with the situation, so that won't help much the ones who need help. The market itself is already making adjustments, so the best hope is right there.

01/03/2008 10:44 PM

by Esko Kiuru - Las Vegas NV Mortgage Consultant (Sinifox Financial)

Jason, I would like to see the market correct itself. After all, I printed off a list of 144 lenders who went out of business last year and that was a few months ago.

01/03/2008 10:53 PM

by Iam Gone (Until Next Time)

Jason,

Ditto the others, I would not want to see anymore goverment controls or bailout, period!

01/03/2008 11:11 PM

by Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA (Preferred Home Brokers)

Jason, I've been very vocal on the issue and I do believe that there should be some realistic intervention. Unfortunately, when we're talking about the government there is no such thing as realistic intervention. The markets were artificially manipulated to get us here, all in the name of capitalism. At this juncture it's impossible to unring the bell. People will lose their homes, homelessness will increase and a drag on social services will ensue. We as a society have become reckless beyond comprehension. Any solution that is currently being talked about is nothing more than political rhetoric.

It shouldn't have been allowed to happen to begin with, our elected officials are impotent at best! As I'm watching it unfold I'm almost feeling that this whole scenario was orchestrated.

01/03/2008 11:27 PM

by Kate Bourland; Redding Mortgage, Debt Elimination (Windsor Capital, Dyer Beech & U First Financial)

JASON, you made me laugh. I am with you. I believe this is a serious matter that will not e easily resolved. I will watch on the sideline.

01/03/2008 11:46 PM

by Dionne Morgan REALTOR®,GRI, e-PRO (Realty World Solano Realty)

NO! they can't.

01/04/2008 05:26 AM

by Jay Beckingham (Allied Home Mortgage Capital Corp.)

I agree with what everyone else seems to be saying. The government can't fix the problem and quite frankly I think they have no business trying to fix it. At some point in time the children have to start taking responsibility for their own actions and stop relying on "mommy & daddy" to fix it for them.

01/04/2008 07:11 AM

by Don Draughn - Debt Counselor (Financial Debt Freedom)

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