2009-03-08 — nypost.com
The two most obvious things missing from the plan, which hopes to reach 9 million ailing homeowners, is that it doesn't include adequate property appraisals or a risk management of the reworked loans, the sources said.
Without these safeguards, they said, steadily declining home values will waste taxpayers money by putting homeowners back into over-valued homes with no equity and no free cash to maintain the home.
We like the part about excluding foreclosures from comp valuations, creating a nice overvaluation. And then re-fi'ing people up to 105%, with no principal reduction. Ugh. Can it get any more obvious they are trying to keep creditors whole, avoid "putting any money in" to cover haircuts, and not give borrowers any true relief?
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catherine at 07:13 2009-03-09 said:
I know I know I promise to quit saying it soon - well maybe- the nation ELECTED A BEGINNING HACK who then put a young tax cheat in charge and anyone out there, come on, anyone out there saw anything in these two guys history that would make them think these two were up for this job.. I wanted Romney, and my reason went above a lot of people's heads but I thought it was important in our next president HE WAS THE ONLY ONE THAT COULD SPELL CDO, and McCain was second because his billionaire wife could................ Harvard elites have brokers that do that wet work for them or they have REzkos give them cash this is going to speed up with a beginner driving, count on it..................... why would a party who has Rubin in in (gutted Glass-Steagall) Barney Frank who gives billions of our tax money to his lover over at fannie mae, Carter who did the big everyone gets a house bill which Slick ramped up Schumer who got an illegal loan from CW, entire cabinet minus two DON'T PAY THEIR TAXES, Rangel who didn't pay his taxes why would giving all the power on the planet to these guys make you think they had a solution for you and me??? get ready Permalinkadd a comment | go to forum thread
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