4 replies to this topic

[atlasshrugged]

Rates can go to zero and it wont matter!!!there is zero equity in most of the properties and the 100% loans are gone for people with sh*ty credit

[CAzzaro]

Rates can go to zero and it wont matter!!!there is zero equity in most of the properties and the 100% loans are gone for people with sh*ty credit

You're right. But the question is whether the politicians change any of the rules, or whether lenders decide that it is prudent to rewrite the terms of loans rather than take the property back, spend the foreclosure costs, and then lose money on the sale of the house. I'm not predicting that any of this will happen. Just pointing out that it could happen in today's climate.

[atlasshrugged]

Rates can go to zero and it wont matter!!!there is zero equity in most of the properties and the 100% loans are gone for people with sh*ty credit

You're right. But the question is whether the politicians change any of the rules, or whether lenders decide that it is prudent to rewrite the terms of loans rather than take the property back, spend the foreclosure costs, and then lose money on the sale of the house. I'm not predicting that any of this will happen. Just pointing out that it could happen in today's climate.

its a band aid on a broken leg....!!!

[Trend-Shifter]

The 50 & 60 year loan is on the horizon! They can never own their house

[HiFiGuy]

I don't think they care...they'll just repossess the homes, sell them off to some REIT and then rent them back to us. the banks own us, one way or another.