Anyone Else See Romney's Comments on Letting the Bank ForClose on Homes?

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Doug5

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then he sez, let the investors buy them up at rockbottom prices, so they can rent them back to the previous owners.

I always knew the guy was a jerk.
 
There's a feller in my neck of the woods who once told me that if every time a house gets foreclosed and burns down, the foreclosures would stop. He had a glint in his eye when he said that, but it felt good to see him say it.
 
now that Ive thought about it, I dont know what the solution is.

At first it seems reasonable to allow the homeowner to remortgage the home at the current deflated prices.

Then what about the homeowners that have kept up with their mortage payments? Is it fair for them to continue to pay the bubble price, while their neighbor gets a better deal?
 
now that Ive thought about it, I dont know what the solution is.

At first it seems reasonable to allow the homeowner to remortgage the home at the current deflated prices.

Then what about the homeowners that have kept up with their mortage payments? Is it fair for them to continue to pay the bubble price, while their neighbor gets a better deal?

I think it would be better to help the home owner, they could end walking away from their home and could it end getting run down looking and the people that are playing their over price mortgage will have a house next door to them that will hurt the value of their home and investment
 
People should walk away from their mortagages, if its in their financial best interest. In some areas its common for foreclosures and evictions to take over a year.

Live rent free for a year and save all money spent on mortgage payments.
 
now that Ive thought about it, I dont know what the solution is.

At first it seems reasonable to allow the homeowner to remortgage the home at the current deflated prices.

Then what about the homeowners that have kept up with their mortage payments? Is it fair for them to continue to pay the bubble price, while their neighbor gets a better deal?

Good question.
 
well at least the banks were bailed out and are ok
 
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