[Razzz42]

[DonaldC]

Between demographics and a declining standard of living alone make this predictable.

[ml/nj]

I guess I'd appreciate more details about why "the five biggest banks in America" have been "fraudulently foreclosing on homes in the last few years." This makes no sense to me. Can anyone supply links to support such an assertion.

ML/NJ

[RatRipper]

Banks are desperate for cash

BS!!!! They are swimming in liquidity (cash and near cash instruments) because loan demand is not there. Like most banks I know, my bank is the most liquid in its history.

[NoKoolAidforMe]

Can someone tell the author that when you default on your mortgage, you should expect your home to be foreclosed on. You should not be rewarded with a blackmailed extortion from the lender who seeks to recover the property that you were able to buy with the lender’s money.

As long as there is high unemployment, a recession/depression, a weak dollar, global uncertainty and a marxist dicator in the White House, the real estate market will remain where it is and perhaps sink lower.

[EGPWS]

The Obama administration said, last week, this deal will be good for “struggling homeowners.”

Housing prices are headed down. Most people cannot fathom year after year of declining prices. But, that’s what’s coming, and I see nothing that will stop the slide.

FOUR MORE YEARS!!!!

/MS

[kidd]

There are a lot of fishy issues with this article.

- $26 billion is hardly a “slap on the wrist”. Sounds like another Obama shakedown.

- My understanding is the “robo-signing” is a ficticiuos term.

- If it is a real term, how does one “robo-sign” a foreclosure...I thought that the term applied to mortgage approvals, if it applies to anything at all.

[ExGeeEye]

My wife and I are counting on the current depression (correction?) in the housing market to make our own dream of home ownership a reality.

Went and looked at 5 $30K houses today, more tomorrow.

[DJ MacWoW]

We're also going to try to replace some of our older servers and failing equipment this year so we're going to add a little extra to our FReepathon goals. John is estimating ten to fifteen thousand to do this and I'd like to get it all in place and working before the election cycle is fully heated up, so we'll try to bring in a little more now if we can and the rest next quarter.
Jim Robinson

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[KodakKing]

It's gonna get even worse. What I have seen is banks unwilling to reduce the mortgage payment of those unemployed (due to no fault of their own)because for whatever reason they did not qualify for the government backed program, and the bank is not willing to accept any risk themselves. They would rather foreclose than extend credit to someone who's credit has suffered due to the lack of a job. They do not know what it is like to have to beg & borrow from family & friends. They do not know what it is like to have to decide to pay the electric bill or the car insurance payment this payday. They do not know what it is like to worry if you will run out of diapers or milk before the end of the week.

The bigger problem with this is that we are creating a GENERATION of people who will not be credit worthy. How are the banks going to make money then? They will have to wait till the next generation comes along. Will they go bankrupt in the meantime? Not likely. That would not be good for America, now would it? {sarcasm}

[Notary Sojac]

Consider the latest Case-Shiller report where year-over-year declines in home values averaged 3.7% nationwide. This is despite 30-year mortgage rates at or below 4%

In most areas, housing prices are just now getting back to where they would have been had we not had an insanely overheated real estate bubble. That's a GOOD thing in the long run.

It's too bad about those folks who bought homes in 2005 and are now taking a major haircut, but that is what happens to those who buy at the top of the market.

And you need to read carefully the stories about the forlorn foreclosed. In many cases they had lots of equity and a low payment before they took out big refinances and lines of credit, spending the money on bling bling. People in that situation rank about 364,988th on my sympathy list.

[familyop]

"It is official. State and federal governments have condoned forgery, perjury and fraud" theft "in what’s been called the" “robo-signing”" property tax racket, "foreclosure" stalling "debacle."

[familyop]

Evict all of the deadbeats. They just don’t want to work. Cut residential real estate prices by 4/5.

[Rebelbase]

We’re only 3.5 years into this mess. It took some areas of the country 20+ years to bound back from 1929, including a world war in the process.