Comments on: What Is The New Obama Plan For Housing? http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/ Real Estate Blog, Mortgage, and Development News Sat, 20 Mar 2010 11:25:08 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Sean Terry | Dealmakers Blog http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/comment-page-1/#comment-345613 Sean Terry | Dealmakers Blog Wed, 18 Feb 2009 16:00:38 +0000 http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/#comment-345613 Having Bankruptcy judges do loan mods will encourage more people to file BK. Why doesn't Obama adjust everyone's mortgage to 4% and if someone is behind on their loan and facing foreclosure tack the default amount to the back of the note. This move would be aggressive and would put a lot of borrowers back on track. The issue would be valuation of the property vs principle loan amount. It will be interesting to see what he unveils Thanks for the post!! Having Bankruptcy judges do loan mods will encourage more people to file BK. Why doesn’t Obama adjust everyone’s mortgage to 4% and if someone is behind on their loan and facing foreclosure tack the default amount to the back of the note. This move would be aggressive and would put a lot of borrowers back on track. The issue would be valuation of the property vs principle loan amount.

It will be interesting to see what he unveils

Thanks for the post!!

]]> By: Jim http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/comment-page-1/#comment-345260 Jim Wed, 18 Feb 2009 03:28:13 +0000 http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/#comment-345260 I thought it was Phil Graham and the Republican Majority Congress that overturned the regulations?....of course Clinton signed it into effect....but at least it wasn't his brain child...no sir, free market ideology is what got us here today...thank you Mr. Greenspan for following in the footsteps of Ronald Reagan...of course we had a stock market crash in '87 and six straight years of raising taxes after Ronald, but who's counting anyways...lol...actually I bet G.H.W. Bush was counting when he lost his re-election bid in '92 because of those tax hikes...and we all know the mess his kid led us into so let's keep it real....here's an idea, let the market adjust itself, I'll go live in a hooverville for 10 years, at least I'll own my own hut in a prime park district local! I thought it was Phil Graham and the Republican Majority Congress that overturned the regulations?….of course Clinton signed it into effect….but at least it wasn’t his brain child…no sir, free market ideology is what got us here today…thank you Mr. Greenspan for following in the footsteps of Ronald Reagan…of course we had a stock market crash in ‘87 and six straight years of raising taxes after Ronald, but who’s counting anyways…lol…actually I bet G.H.W. Bush was counting when he lost his re-election bid in ‘92 because of those tax hikes…and we all know the mess his kid led us into so let’s keep it real….here’s an idea, let the market adjust itself, I’ll go live in a hooverville for 10 years, at least I’ll own my own hut in a prime park district local!

]]> By: Atlanta homes http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/comment-page-1/#comment-345156 Atlanta homes Wed, 18 Feb 2009 00:13:33 +0000 http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/#comment-345156 At this point we will take what we can get. I don't agree with letting BK judges restructure mortgages but now we are past the point of arguing that. The Republicans continued the de-regulation with Fannie Mae and Freddie Mac that the Clinton Administration started in the late 90s. This paved the way for 0 down loans and easy approval. I would not point the blame soley on the Republicans for this mess we are in. At this point we will take what we can get. I don’t agree with letting BK judges restructure mortgages but now we are past the point of arguing that. The Republicans continued the de-regulation with Fannie Mae and Freddie Mac that the Clinton Administration started in the late 90s. This paved the way for 0 down loans and easy approval. I would not point the blame soley on the Republicans for this mess we are in.

]]> By: Jim http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/comment-page-1/#comment-344903 Jim Tue, 17 Feb 2009 15:50:19 +0000 http://www.therealestatebloggers.com/2009/02/17/what-is-the-new-obama-plan-for-housing/#comment-344903 Wouldn't the cost of going to the bankruptcy judges be offset by your restructured mortgage? I'm no expert, but this is something the Bush Administration failed to do, Barney Frank for one has been screaming to allow bankruptcy judges to restructure as he claims it would ease the burden on homeowners on the brink of foreclosure. Don't know much about how this process works and the cost behind it, but I'm sure Obama is trying to help homeowners, not screw them like the previous administration did by allowing 0% down and approving loans no matter....blame the loan officers and Bank C.E.O.'s, Wall Street on crack...I'm sick of Republican ideology, it has failed miserably. Obama is the sixth President in my lifetime, I've had 3 Republicans and now 3 Democrats, and every Republican has left office with the nation in a recession...fiscally conservative my behind!! Wouldn’t the cost of going to the bankruptcy judges be offset by your restructured mortgage? I’m no expert, but this is something the Bush Administration failed to do, Barney Frank for one has been screaming to allow bankruptcy judges to restructure as he claims it would ease the burden on homeowners on the brink of foreclosure. Don’t know much about how this process works and the cost behind it, but I’m sure Obama is trying to help homeowners, not screw them like the previous administration did by allowing 0% down and approving loans no matter….blame the loan officers and Bank C.E.O.’s, Wall Street on crack…I’m sick of Republican ideology, it has failed miserably. Obama is the sixth President in my lifetime, I’ve had 3 Republicans and now 3 Democrats, and every Republican has left office with the nation in a recession…fiscally conservative my behind!!

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