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Real Estate
Reply to "What I don't get: When people complain that they are drowning because their house is underwater"
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[quote=Anonymous][quote]rewards those that have been paying on time and require a mod, don't reward these people http://www.bloomberg.com/apps/news?sid=aVYxPZ56vjys&pid=newsarchive [/quote] By "these people," do you mean people who are delinquent on their mortgages? But aren't they likely to be the people who suffered job loss, or medical issues, and are the most deserving of help? And "have been paying on time and require a mod[ification]" raises an interesting issue - if you've been paying on time, you can't really be said to REQUIRE a modification, right? But all of that aside - once again, how would you suggest we go about this? Because you're suggesting that banks be permitted (or compeled?) to issue loans for which they KNOW they don't have sufficient collateral. So would you suggest a federal insurance program? Direct subsidies to the consumer, or lending institution? What? [/quote]
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