http://www.therealestatebloggers.com/2008/07/25/federal-bill-will-provide-incentive-to-2nd-lienholders-to-allow-refinance/ Real Estate Blog, Mortgage, and Development News Fri, 20 Nov 2009 23:48:48 -0600 http://wordpress.org/?v=2.8.6 hourly 1 http://www.therealestatebloggers.com/2008/07/25/federal-bill-will-provide-incentive-to-2nd-lienholders-to-allow-refinance/comment-page-1/#comment-235610 Pamela Fri, 25 Jul 2008 18:38:50 +0000 http://www.therealestatebloggers.com/2008/07/25/federal-bill-will-provide-incentive-to-2nd-lienholders-to-allow-refinance/#comment-235610 Who is set up to monitor these reconstructed loans, to see how many wind up back in foreclosure in less than 2 years. I am guessing 50% will be back in foreclosure, and then FHA, will be covered up with 250,000 and up homes sold as HUD foreclosures, which are usually 30% below the market of what the independent banks and lenders resale their foreclosures in any given neighborhood, thereby causing another downturn. Do you think anyone is going to monitor this? Who is set up to monitor these reconstructed loans, to see how many wind up back in foreclosure in less than 2 years. I am guessing 50% will be back in foreclosure, and then FHA, will be covered up with 250,000 and up homes sold as HUD foreclosures, which are usually 30% below the market of what the independent banks and lenders resale their foreclosures in any given neighborhood, thereby causing another downturn. Do you think anyone is going to monitor this?

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