ST Alpha - "Not every person in foreclosure should get to keep their house. -- nm" (Reading a Post)

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In response to "Obama has lost track of the true problem. Only 15% of people in foreclosure have been helped. " by Redmond

Not every person in foreclosure should get to keep their house. -- nm

Posted by TFox Aug 13 '09, 16:33

(No message)

Responses:

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

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