Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (533367)	11/30/2009 12:38:54 PM
From: i-node	Read Replies (3) \| Respond to of 1574826

>> Inode, do you know of situations where the borrower tries to force a foreclosure and doesn't even put in a good faith effort to help the borrowers meet their payments? It is pretty hard to imagine there are actually such situations in this market. Obama was criticized today in an article at Politico for issuing idle threats -- "But it’s a perception that began when Obama several times laid down lines — then let people cross them with seeming impunity. Last summer he told Democrats they better not go home for recess until a critical health care vote but they blew him off. He told the Israeli government he wanted a freeze in settlements but no one took him seriously. Even Fox News — which his aides prominently said should not be treated like a real news organization — then got interview time for its White House correspondent." This is another idle threat. How is he going to "crack down", legally, at least? Is he going to corrupt the mortgage markets in the way he did the secured debt markets?

To: Tenchusatsu who wrote (533367)	11/30/2009 1:11:26 PM
From: tejek	Read Replies (2) \| Respond to of 1574826

Inode, do you know of situations where the borrower tries to force a foreclosure and doesn't even put in a good faith effort to help the borrowers meet their payments? I'm not talking about borrowers who are just looking for an easy interest rate or principal reduction, i.e. free money. I'm talking about lenders who actually use their power to ram through foreclosure proceedings because for some odd reason that would be better than trying to work with the borrower. It happens all the time. Why would a lender want to work with a borrower who has defaulted? It requires a modification of the loan and even then, its not likely to work. Better to foreclose and sell the property.....that's the attitude of most lenders.