By: Jerry W

Jerry W — Mon, 19 Jan 2009 17:56:34 +0000

It is a very slow thing and will take years if the Government keeps trying to prop up the prices on these things. It takes 4 times the time and money to straighten out a screw up than to just do it right in the first place. They are losers and somebody has to take the loss and not the taxpayers. I suspect that a large percentage of the houses went to flippers who are not going to repay anyway. They should be prosecuted along with the person who made the loan. If an individual made a liar loan they don’t deserve a house they should be prosecuted along with the lender also. This thing WILL NOT turn around until the G figures out, even they cannot prop up the prices on these losers. GUESS WHAT THEY WILL NOT GO UP IN VALUE ! IS ANYBODY SMART ENOUGH TO FIGURE THAT REAL ESTATE ALSO DEPRECIATES ! A Big Big factor particularly in houses is maintainence of the asset and supply & demand in the market place. Will they go up in value ove 10 years? Who Knows? For now they have to be sold for what their “cash as is where is value” is NOW, that will be the bottom and then it will go up from there. It is all a matter of value. The only reason the houses sold for the prices they sold for, is because of the phoney financing, false appraisals, and liar loans perpertrated by liars & thieves in the building and finanancing industry. The whole thing was allowed by an inept, moron Congress who was being paid off by the crooked industries they were supposed to control. Does anybody seriously think that a Banker would make a 30 year fixed interest rate loan to someone if they couldn’t lay it off to the moron government? They learned that lesson back in the 80’s. Apparently the morons in Congress didn’t. Of course they didn’t care because it wasn’t their money either. It’s sickening to see these very smart crooks & con men be bailed out with our money, when they should be going to prison. NEXT UP Credit card companies When will it stop.

By: JM

JM — Mon, 17 Nov 2008 20:35:50 +0000

By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan application to the financial worksheet submitted in the short sale package. If there are inconsistencies in the financial information submitted, some lenders are pursuing fraud charges against the homeowner.

By: Tony Sena

Tony Sena — Fri, 07 Nov 2008 15:33:07 +0000

I would expect anything less from the banks!!! Don’t get me started on the lack of personnel at the banks handling REOs and Short Sales!!!

Comments on: Liars Loans Turning Into Liars Reworked Mortgages?

By: Jerry W

By: JM

By: Tony Sena