Shouldn't the headline read "more than first thought"?
Good! When I was having problems with my mortgage due to an illness I asked the banks for help. I was told there was nothing they could do for me. I lost my home. Hopefully this will help others in a rough spot to stay in their homes
Sure i guess they'll just be printing more money to do that. The same as counterfeiting. I'd like anyone to point out a single individual who has ever been helped or is going to helped with this money.
It seems to me most of the home buyers that got in trouble were just as responsible for the crises as the Democrats that pushed for the loans.
Who could actually fall for a homes value doubling and tripling in 2 or 3 years. The smart owners who did nothing survived. The owners who foolishly barrowed on the perceived equity and bought rentals, cars, boats and vacations deserve no help. The people who overpaid for homes were stupid and at fault. The people who speculated the bubble wouldn't burst, tough luck. It's sickening the tax payers must pay for others mistake. Then the resulting loss of jobs due to this liberal housing experiment.
Ground Zero for America’s Foreclosure Crisis
Wow Crockett! Too bad the rest of us didn't have your foresight. People were encouraged to purchase a home who could not afford it by the government Yes. However those who had a home and struggled to keep it as the cost of everything increased (due to the policies of the Government) refinanced to try to keep their home. No one wants to loose something that they have invested so much into. It's the "American dream" remember?. The Governments "programs" to help people keep their homes were not binding on the banks and the banks for the most part refused to use them. The Sad part of this story is that the Government and the banks are in bed together and the real winner here is the state of California. I doubt struggling homeowners will see much relief from this settlement.
So what you are telling us is that you are the one person who saw it coming because no one else did.
This is aprime example of giult . any body that can do basic
math could see that banks, realators , lawyers , politions , all had
something to gain with artificial pricing of homes .
The polititions Over regulated and taxed , the lawyers made money
suing about it , the realtors helped by over stating peoples income and
prop. values , and the banks made money by making bad loans and getting the tax payers to reemburse them when it all fell apart .
Crockett, your right wing memory never ceases to amaze. The main run up (and burst bubble) of the "liberal housing experiment" occurred during the two terms of George W. Bush. But alas noting that fact wouldn't gel with the grand liberal conspiracy vision.
NOTE: You must be a registered site user and logged in to post comments (see links below).