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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: SGJ who wrote (71334)	8/31/2009 10:04:28 PM
From: MJ	Read Replies (2) \| Respond to of 224748

Appreciate your thoughtful response. Yes, the last paragraph was a non-sequiter. I have a followup question------I wrote and you responded noted that MJ---lenders devalued their homes and cut the home equity loans in half....If a mortgage banker devalues the home by 50% TexBanker: Bankers are not responsible for the market value of RE. MJ----then the homeowner should have their debt reduced by a commensurate percentage. Texbanker---The bank has no responsibility for the market price of a home. The interest rate does not compensate for that risk. Insurance could cover it at additional cost. See above. My Question: Who is responsible for the cuts in the values of the home equity loans. The cuts in home equity loans happened overnight------they were part of the total package as described by the Mortgage Brokers who sold the mortgage and equity loans ----marketed to help with home improvements and at lower interest rates than the mortgages. mj