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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (265282)	7/31/2010 1:04:34 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

Why jeer? Strategic defaults are now legitimate financial planning tools. Suzie Ormond recommended one just the other night...<G/NG>

To: DebtBomb who wrote (265282)	7/31/2010 2:46:57 PM
From: koan	Read Replies (5) \| Respond to of 306849

I am in real estate and a hard core liberal. I am very disappointed in the fact Obama did nothing to help the real estate crises. Stiglitz and Krugman and Warren knew what needed to be done. But Obama dised them. They need to run the help to wall street through the middle class e.g. the government could have forced the banks to refinance first and seconds up to 120% of appraisal for people with good credit and jobs who had owned their homes for several years and just got caught up in the downdraft. Those would have been good loans. As the people could have taken advantage of the low interest rates and stayed in their homes. None of that happened. Even now things like short sales are a joke. The banks put dealing with those events at the bottom of the list and hire only a fraction of the peope they need to deal with them. the banks are dragging their feet. Word has it they only have 25 to 40 days to make a decision, but they just ignore that and no one holds them accountable. So Wall street actually got rich while mainstreet got screwed. And everyone should fully understand it was Wall streets gambling with CDO's and CDS's that brought down the economy! Nothing else. I wouldn't just walk away from a house as it would destroy one credit.