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  • Fast and Easy Fannie
    So there's plenty of blame to go around (borrowers, lenders, mortgage brokers, bankers, builders, etc.) in varying degrees depending on the circumstances. Meanwhile, the holders of these toxic mortgages are slowly transferring them off their balance sheets and onto the balance sheets of government backed entitites, in one way or another. So those of us that thought we were being responsible are the very same who will foot the bill by lower home equity, lower real value in your retirement accounts and ultimately higher taxes. While the investment banks, builders, etc. that made plenty of profits on the upside are not accountable on the downside. Their stock value may declide temporarily, but as they transfer these bad debts to government back entities (you and I), their value will surely recover. There you have it. Our government at work. And by the way, you home buyers looking for a good deal, be ready to watch that down payment your going to be required to pay evaporate as the value of that home continues to fall, thanks to your government letting the air out slowly, and essentially transferring your dollars back to the investment banks.
    May 03 11:47 am |Rating: 0 0 |Link to Comment |View article
  • Hitting the Reset Button On Home Mortgages
    Low interest rates are certainly a good thing. But low interest rates to purchase a declining asset isn't going to incent a tremendous amount of people. A real estate correction is necessary. Any move by the government to prop up prices through any means would equate to fraud in the real markets. And to "vboring", not all bankers and mortgage brokers are white.
    Mar 31 16:08 pm |Rating: 0 0 |Link to Comment |View article
  • Hitting the Reset Button On Home Mortgages
    Maybe it's not too late. I could still rush out and buy a house right on the brink of what I can qualify for, then wait for the price to drop and the government to bail me out along with the rest. Wonder if I can get them to compensate me for buying a large SUV that's surely going to depreciate as well. Hmmmm. What about other investments. Surely I can come up with more. No sense being responsible. Social security won't be there anyway. Might as well get the rest of the country to finance my bad decisions as well. I love this country. Especially in elecition years.
    Mar 31 10:45 am |Rating: 0 0 |Link to Comment |View article

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