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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (256338)6/23/2010 8:40:41 PM
From: sspadsRead Replies (1) of 306849
 
LOL, "Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure."
That's like the Dean in "Animal House" saying, "we're going to put you on double secret probation." These people cannot afford a mortgage now, and they're not going to in 7 years. Furthermore, why 7 years? This crap is so arbitrary.
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