Quote:
Originally Posted by sonarrat
I was right about this, but I wasn't expecting that "new class of mortgage providers" to be the Federal government.
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i guess you underestimated the ability of the government to play the extend and pretend game. i happen to agree with mr. tough money love:
The idiots in our government are at it again. They refuse to acknowledge that the fastest route from a deflating real estate bubble to a normal market is to actually let the bubble deflate. Instead, they insist on throwing taxpayer money into one mortgage “rescue” program after another.
NOT ONE OF THESE MORTGAGE RESCUE PROGRAMS HAS WORKED.
How can Mr. ToughMoneyLove make this bold statement?
First, the experts are predicting 4.5 million foreclosures this year. There were 2.8 million foreclosures in 2009. The billions thrown at the foreclosure problem in 2008 and 2009 have bought us …… 60% more foreclosures!
http://toughmoneylove.com/2010/03/26...homeowner-aid/
i would suggest that is a serious waste of taxpayer money.