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Dump Queeg and unleash the Sarahcuda. |
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Until November 5th, this is the most brilliant proposal ever proposed. It is awesome, genius, fantastic, outstanding. No candidate has ever proposed a more perfect solution, ever. In the words of Bill Murray: I love this plan, I’m excited to be a part of this plan!
After November 5th... I’ll talk to you then.
Carly fiorina is making a point on Greta that is moronic. In essence, a buyer complains that they can no longer afford the mortgage because the value of the house has fallen. This is like saying that you can no longer afford the car payment because the value of the car has fallen. I think that if a person can afford the mortgage payment even though the value of the house has fallen, then the payments need to be made regardless. If the person can not afford to make the payments because they got into a situation that should have avoided, tough luck. The Government should let well enough alone.
As I understand it he is planning on using part of the $700 B for this, not additional $$.
#300 billion is a whole lot less than what Obama is going to spend on this.
I am resentful that I have to pay for any of this, however.
The 300 billion will come out of the 700 billion already passed, to the average joe out there this means something as the bailout is not just for the wall street.
Get a grip folks , quit being so negative.
Okay, the Plan has changed a little. On Day 1 we impeach McCain for being bi-partisan and get Palin, all in favor give a shout out !
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Dump Queeg and unleash the Sarahcuda. |
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Why don’t we give out billions of dollars to companies who play by the rules and do good for our market?
perhaps individual bankruptcy judges deciding what someone should owe (redefining value) on their home mortgage would be a better idea? That’s what the dems want.
The bail out bill already passed. Maybe he's using the money that's ALREADY been allocated. Shouldn't we wait and find out what he's talking about before jumping to conclusions?
So let’s see... He wants to buy mortgages that are entering foreclosure - like when they are offered at a foreclosure sale. Meaning the Government buys more property at discount rates, and most likely then sells the property later on at a profit.
And this is socialism how???
Of course, it isn't McCain's money. It's mine and yours. I would have liked to have used mine for college and a new house. But I guess I can bailout a few more of his buddies. It's only fair. Right?
The folks who have been pimping McCain should be ashamed.
The brain washing he received in prison is now surfacing!
He’s a certified communist now!
It is bad policy, though no worse and perhaps morally more defensible than the $700 billion bailout—I mean “rescue” of Wall Street.
It might be good politics though, and, though I hate to admit it, right now I can handle a little foolish, populist rhetoric if it keeps Barack Hussein Obama out of the White House.
That said, keeping home prices artificially inflated is of no benefit in the long term. Prices should adjust to a level where incomes can support the prices.
The median home, in a particular region, should be priced at a level affordable on the median income (excluding renters). A 25th percentile home should be priced where a family at the 25th percentile in income can afford it, a 75th percentile home should be affordable to someone making a 75th perecentile income, etc., etc.
And when I say affordable, I mean with at LEAST a 10% (20% would be better)down payment, and fixed rate mortgage for no more than 3 times annual income (2 1/2 would be better).
Until home prices come in line with income, we will still be in the midst of a bubble that will inevitably burst.
I’d like to see reform in home appraisal methodology to reflect this. Appraisals should no longer be based upon whatever the (often grosly inflated) market value of similar homes in the area are.
Instead a formula should be developed where the median home VALUE (based upon the income of the region) is determined and then homes are appraised based upon their relative desirability (size, location, etc.) as compared to the median home. This would help prevent future real estate bubbles.
She doesn’t need to worry about this happening.
With all these bailouts, inflation rate will go up so much, that home prices have no choice but to rise along with it (sigh)
Ya know...after the first 100 Billion the other billions seem like pennies. What’s a few hundred billion between candidates, ‘eh?!
McCain wants to cover up the 5 million illegal alien loans out there.
actually this is going to happen one way or the other.
folks all those bad morgages are going to end up in the taxpayer’s balance sheets. These are all the derivatives that locked up the credit market.
The credit lock up is because BILLIONS of these mortgage papers are no longer circulating in the finance markets.
a 300,000 new mortgage note was worth 900,000. a bank could sell that note for 450,000 and pocket the 150,000. The buyer THOUGHT they had a another 450,000 in revenue over time.
Now bundle these in groups of 100 suddenly you had a “secured” asset note.
The problem is the house was a side not to creating the resellable mortgage.
THOSE are the 700 billion dollar bailouts we are going to buy ANYWAYS.
