SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kevin Rose who wrote (139401)9/29/2008 10:52:37 PM
From: geode001 Recommendation  Read Replies (1) of 173976
 
It seems to me that there are a few problems:

1. Those asset values are bubble values. IMO, the housing market shouldn't have gone up so much after the stock market tanked in 2000. Some banks are not even bothering to take possession of foreclosed properties because they'll muck up their balance sheets. Some properties have negative value because they owe taxes and need so much work.

2. Nothing is addressing the rest of mortgages that continue to cause defaults which is continuing the slide. If Washington really cared about mortgages, the bill would have been about what they are already doing with Indymac.

3. There is no concern about usury especially in the massive credit card debt problem. This, like the resetting of inane mortgages just keeps making the problem worse.

4. Other debt is also problematic: student loans, commercial loans, equity loans, car loans, etc.

If this really is a crisis with mortgages at the crux of the problem, then why isn't Congress and the administration addressing those at all? Why aren't they legislating a moratorium on foreclosures (they did on short selling) and a resetting of mortgages (you have a lower monthly but you tack on years to your mortgage) to affordable rates?

This leads me to believe that mortgages aren't really the crux of the matter, speculation is.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News