[Mike1306]

Originally Posted by Hero

Who is the owner? Sell the house. Whoever gets the most money was the "owner."

The owner would be the person who has the ability to sell the house and live in the house among other things.

The lender can not just decide to sell the house and tell you to move.
The lender can not move in the house.
The lender can not decide to paint the house.

[Hero]

Originally Posted by Mike Peterson

The owner would be the person who has the ability to sell the house and live in the house among other things.

The lender can not just decide to sell the house and tell you to move.
The lender can not move in the house.
The lender can not decide to paint the house.

The lender can take your house from you if you dont' pay your bills.
The lender can paint the house and rent or sell to someone else.

[Mike1306]

Originally Posted by Hero

The lender can take your house from you if you dont' pay your bills.
The lender can paint the house and rent or sell to someone else.

They would have to go through foreclosure procedings and when the procedings were done the deed would be put in their name.
At that time they could do the things you mention but not before.

[Hero]

Originally Posted by Mike Peterson

They would have to go through foreclosure procedings and when the procedings were done the deed would be put in their name.
At that time they could do the things you mention but not before.

Now you can't really do that to a home that someone owns now can you?

[Mike1306]

Originally Posted by Hero

Now you can't really do that to a home that someone owns now can you?

If they continue to pay what they owe, no you can not.

But of course you already know this and it is getting old already.

[Hero]

The "owners" who are having problems paying interest only mortgages are basically renting a home they cannot afford.

[JimMe]

Originally Posted by Mike Peterson

Why not go a step further and make it that you can not get a loan for a home?
You have to pay cash.

And you can only buy a home if you make over $100,000 a year.

Of course I am being sarcastic here but you can not put those types of restrictions on home purchases it is just not realistic.

I'd like your perspective, as a real estate agent, on an article by Jerry Bowyer posted on Twonhall.com. He argues that the mess in the housing market was caused, in large part, by Congress and Fed regulation of banks, as well as housing activists, like Barack Obama. What do you think?

[Wild Style]

Originally Posted by sunrico90

This hits the nail on the head and drives it down all the way. Individuals fail to evaluate the risks and neglected to ask for advise or analyze the loan agreement. This by far is the biggest investment that we ALL will make in our life's, we must know our limits.

Yes, not all the loans are in danger, but WE failed to see our limits. This is like a real back case of the flu, all will get it.

Something will happen, Yes the GOV will make it happen regarless of right or wrong. Regardless of the results WE are the ones that will pay the bill for others to get out of trouble.

But what we must remember is that a lesson in life was presented and hopefully we learned and we will think about our financial position before we decide to blow money away...

What are we doing to be in a better position tomorrow?

This same lesson was supposedly learned in the 90s yet here we are again. Human beings have short term memories it seems.

Originally Posted by JimMe

I'd like your perspective, as a real estate agent, on an article by Jerry Bowyer posted on Twonhall.com. He argues that the mess in the housing market was caused, in large part, by Congress and Fed regulation of banks, as well as housing activists, like Barack Obama. What do you think?

who ever sited regulation as the cause has lost sense of reality. They loosened regulations and this is what caused all of this. They are now talking about imposing heavy regulations to prevent this from happening again. I posted a article in the business section of the forum called "how we got here" or something like that. You should check it out.

[hiknapster]

Originally Posted by JimMe

I'd like your perspective, as a real estate agent, on an article by Jerry Bowyer posted on Twonhall.com. He argues that the mess in the housing market was caused, in large part, by Congress and Fed regulation of banks, as well as housing activists, like Barack Obama. What do you think?

It's official. I've heard it all.

Barack Obama is responsible for the housing bubble.

Well, if we're going to name names, I would counter that Charley, Jeanne and Frances had more to do with starting the housing price run up in Florida, than anyone else.

[Wild Style]

Add Sir Greenspan to that list

Originally Posted by hiknapster

It's official. I've heard it all.

Barack Obama is responsible for the housing bubble.

Well, if we're going to name names, I would counter that Charley, Jeanne and Frances had more to do with starting the housing price run up in Florida, than anyone else.