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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (442195)	12/23/2008 3:17:37 PM
From: tejek	Read Replies (1) of 1577740

If widely accepted by home owners, this will ruin the American consumer and make housing a dead asset class for decades. If you are in a serious negative equity position when signing these forms, as most are, remember that you will: * never be able to sell your home BS. * never be able to buy a new home BS. Chris, you know better than this. Maybe these mortgages would be toxic in Detroit but most of the homes in default are located in areas of the country that are more likely to boom once again......FLA, CA, NV and AZ. In AZ and NV, I predict that once housing puts in a bottom, people who are upside down in NV and AZ will be back to even within 5-6 years; FLA 7-8 years and CA 9-10 years. Certainly, those are long periods of time but at least they will own their own property. Remember homes have never meant to be a short term investment.

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