ST Alpha - "Obama has lost track of the true problem. Only 15% of people in foreclosure have been helped. " (Reading a Post)

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Obama has lost track of the true problem. Only 15% of people in foreclosure have been helped.

Posted by Redmond (aka redmond) Aug 13 '09, 16:30

I think we are going to have a double dip recession.

Responses:

See that guy at the top of the tallest tower, shouting this to the world? Yeah, that's me. AAARRRGHHHH!!! -- nm - Mop (234 lbs) Aug 13, 16:39
If nothing had been done? 0%. -- nm - nubby, Astronauts champion Aug 13, 16:38 1
- I have to try that at my next performance review. - Dr.Vermin Aug 13, 16:42
That isn't his fault. -- nm - the liioulu with silver wire Aug 13, 16:34 3
- Actually it is. If you see my example below. -- nm - Redmond Aug 13, 16:37 2
  - You're example doesn't really prove your point. - the liioulu with silver wire Aug 13, 16:45 1
    - Aack. You are going to force me to search BB's and find the deal my family member got. I really just wanted to be lazy -- nm - Redmond Aug 13, 16:50
Not every person in foreclosure should get to keep their house. -- nm - TFox Aug 13, 16:33 11
- My biggest issue is people that are paying their mortgage but struggling qualify for ZERO of the government low interest programs. - Redmond Aug 13, 16:37 10
  - [deleted] 3
    - Unemployment has a cut off. If it was open ended then your example would work better. These people are getting deals for the rest of the 30yr loan. -- nm - Redmond Aug 13, 16:43 2
      - [deleted] 1
        
        And they have done news story upon news story here about people using it as a vacation. - Redmond Aug 13, 16:51
  - The disincentive is that your credit is ruined for seven years. - nubby, Astronauts champion Aug 13, 16:39 5
    - [deleted]
    - For 50K in loan principle wiped off the books forever, and a 2% 5 year fixed then 5.25% 25 year fixed. I bet you save more over the long run. - Redmond Aug 13, 16:42 2
      - Then by all means. -- nm - nubby, Astronauts champion Aug 13, 16:43 1
        
        I am in all honestly thinking about it. I have consulted with several people in the business to see all the plus and minuses. - Redmond Aug 13, 16:45
    - Unless the credit market is re-regulated, this - in some cases - means nothing -- nm - Beryllium (iPhone) Aug 13, 16:41
that is such a depressing statistic -- nm - JenBro Aug 13, 16:33

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Obama has lost track of the true problem. Only 15% of people in foreclosure have been helped.

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