2009-10-14 — denninger.net
``How many of these people who allegedly "qualify" for a modification will wind up with a sustainable mortgage if they get one?
This is a key question, yet one that hasn't been asked in public, nor have there been public answers tendered. The truth is pretty ugly - without significant principal forgiveness (not "forbearance") a huge, perhaps even majority percentage of these loans are not sustainable even if modified.''
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catherine at 00:43 2009-10-15 said:
THE EXACT SAME WAY THAT THE BANKS THAT WERE SAVED AND ARE DEAD ARE GOING TO GO - THEY WILL DIE YOU CAN'T SUBSIDIZE ANYONE TO STAY IN A HOME HE CAN'T AFFORD AND WE ARE LOOKING EASY AT ANOTHER YEAR OF HISTORICAL UNEMPLOYMENT- THAT MATTERS............... BANKS AND HOUSES ARE TAKING THE MODIFICATIONS AND CASH ARE SURVIVING, JUST BARELY THEY WILL CONTINUE TO BE ON GOVERNMENT WELFARE AND EITHER NEED MORE OR DIE WHY NOT JUST LET THE DELEVERAGE THAT IS GONNA HAVE TO HAPPEN JUST HAPPEN NOW AND SAVE THE TAXPAYER'S DOLLARS THESE GOVERNMENT OFFICIALS WOULD NOT LEND THEIR OWN MONEY TO THESE BANKS AND PEOPLE, WHY ARE THEY SO QUICK WITH OUR KIDS AND GRANDKIDS. Permalinkadd a comment | go to forum thread
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