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

To: Hope Praytochange who wrote (306616)	10/24/2011 11:45:50 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

Many are so far upside down best to just let the courts and market clear those homes out. I am seeing that they will end up taking one of three better options: 1)become renters as they hate ownership with a passion by now and their credit is shot anyway 2)have another member of the family take out a loan on a great foreclosure deal and move there 3)or just pool some of their savings from living mortgage free the past 2-3 years and downsizing to buy a distressed property for cash.

To: Hope Praytochange who wrote (306616)	10/25/2011 12:03:13 PM
From: MJ	Read Replies (1) \| Respond to of 306849

The reporter needs to do more research, and ask more questions. What is the role of CoreLogic as they interact with Fannie and Freddie and the real estate brokers? The additional question that needs to be ask---------where are the Mortgage Brokers who were the middle men who preyed upon homeowners with their usurious loans. Many have disappeared and because of time limitations can not be sued for fraud. "That action consists of revamping an existing government refinance program through Fannie Mae and Freddie Mac for borrowers who owe more on their mortgages than their homes are worth, so-called "underwater" borrowers. There are an estimated 11 million of those nationwide according to CoreLogic." It is very popular to fault the homeowners, I contend that homeowners were scammed and led down the primrose path by the same groups that Obama is now declaring will solve the problems. Obama Refi Plan is Not Housing Stimulus Published: Monday, 24 Oct 2011 \| 5:05 PM ET Text Size