real estate: Do the state programs really help
- 01/11/09 09:31 PM
I've been reading with great interest about the various government sponsored mortgage foreclosure programs at all levels, local state and federal. I can't seem to find one that is actually working. TARP is the worst case of corporate welfare in recorded history and by Barney Frank's own admission is a complete failure. Connecticut's programs have helped a whopping 5 families out of the hundreds that applied. What a waste of tax payer money.
So my question to y'all is there a government sponsored program out there that is actually working? If so, I'd love to see it.
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real estate: CRAM DOWN Mortgages
- 01/06/09 05:50 AM
Please, please, please contact your senators and congress reps to stop the CRAM Down Mortgages. These legislation would allow a home owner who is default on their mortgage to file for Chapter 13 Bankruptcy and then the judge would have the authority to dictate new terms for the mortgage. The principle and interest rate could be set by the judge. While on the surface, that sounds like a good deal, but think about it. What's that going to do to mortgage rates? Investors would have to really tighten who they lend money to in order to make up for the loses … (11 comments)
I've been reading with great interest about the various government sponsored mortgage foreclosure programs at all levels, local state and federal. I can't seem to find one that is actually working. TARP is the worst case of corporate welfare in recorded history and by Barney Frank's own admission is a complete failure. Connecticut's programs have helped a whopping 5 families out of the hundreds that applied. What a waste of tax payer money.;)
;)
