Comments on: Obama Socialized Housing Policy: If At First You Don’t Succeed . . . Try, Try, Again

By: sybilll

sybilll — Tue, 01 Dec 2009 21:40:12 +0000

My next door neighbor was the epitome of the ARM reset bunch who bought way too much house. She fell behind a few months, and in August, she did in fact get a loan remodification. Trouble is, she found out this week that it is reported to her credit as though she filed Chapter 13. Thought you’d be interested. Of course my brainiac neighbor’s response was that would indeed filed Chapter 13 had she known, to get out from her car note (underwater), and her credit cards. Monsters. We created them.

By: elaine

elaine — Tue, 01 Dec 2009 20:27:15 +0000

trapped in the spam filter

By: elaine

elaine — Tue, 01 Dec 2009 20:26:15 +0000

This is the CRA on steroids, the big booster shot. I’m surprised the mortgage backed securities folks haven’t launch a million lawsuits, although what would it get them? Who cares about contract law anyway? It’s all a joke when big gov holds the tax gun & can aim it at anything it chooses. I watch as investors cram 7 or 8 unrelated people into 2 bd 1 bath houses, sleeping in the living room, sleeping in the dining room, cars clogging the streets…know a 77 yr old woman who got a deal 6 years ago on a house under the CRA with a 30 year mortgage, she just got a big cram down & is once again making very bad financial decisions…why not? Punish savings reward debt & this is only the beginning. Turn left for Argentina, turn left again we might make it to Zimbabwe, share the wealth until the wealth runs out. That’s the plan, isn’t it?

By: elaine

elaine — Tue, 01 Dec 2009 19:05:37 +0000

Sounds like the Community Reinvestment Act bucked up on steroids. Contract law takes a swift kick in the butt as “From each according to his ability to each according to his needs” trumps the day. I can’t see any real answers here, every solution ripples into new problems. I’m amazed the mortgage backed securities holders haven’t filed a million lawsuits, although what would it get them? With 1/3 of the mortgages under water…Congratulations to all the lefties who’ve for decades bemoaned our high standards of living, we’re on the road to Argentina now, a few more hard left turns & we may arrive in Zimbabwe.

By: Peggy Sue

Peggy Sue — Tue, 01 Dec 2009 18:41:38 +0000

Larry said:

“Who’s zooming who? Would they like to place a wager on that? I’ll give odds.”

and,

“How do you shame the shameless?”

This is like watching the clown cars at the circus. I’m beyond the point of being aghast. Now it’s a matter of waiting for the whole damn thing to blow up, which, of course, it will. The pain will be immeasureable and will be on the backs of ordinary Americans–you, me, everyone.

There are sane voices out there. Like yours, Larry. Too bad Washington is deaf and compromised. This is not a Democratic or Republican problem.

This is a thoroughly corrupt government at its finest. They will not quit until the whole house burns down.

Sickening! But absolutely predictable. Deja vu [for those who read history].

By: Silence Dogood

Silence Dogood — Tue, 01 Dec 2009 15:31:21 +0000

One can not build a home made of cards and expect it to stand. Pun most certainly intended.