Foreclosures...

[decocritter]

At this point with the volume of foreclosures, what is the point of forcing more people into foreclosure? Would not the banks be better off refinancing at better rates or extending the life of the loan for those that are showing good faith?

All of these empty houses, condos, etc are not really doing anyone any good at this point. Counties are raising millage rates to compensate, causes the rest of property owners financial problems.

[Fritz]

http://www.nytimes.com/2009/01/04/opinio...html?scp=9&sq=david+einhorn&st=nyt

[JoeM]

decocritter wrote:
...Would not the banks be better off refinancing at better rates or extending the life of the loan for those that are showing good faith?...

Then they would be caring about people (their customers) and helping them...but when was the last time you saw that?

Hey, but they WILL give you a toaster!

[Grateful11]

decocritter wrote:
At this point with the volume of foreclosures, what is the point of forcing more people into foreclosure? Would not the banks be better off refinancing at better rates or extending the life of the loan for those that are showing good faith?

All of these empty houses, condos, etc are not really doing anyone any good at this point. Counties are raising millage rates to compensate, causes the rest of property owners financial problems.

My wife and I have been saying that since this all started.

[silvarios]

JoeM wrote: Then they would be caring about people (their customers) and helping them...but when was the last time you saw that?

Hey, but they WILL give you a toaster!

How long have you hated America?

[silvarios]

Grateful11 wrote: My wife and I have been saying that since this all started.

I concur.

[C(-)ris]

decocritter wrote:
At this point with the volume of foreclosures, what is the point of forcing more people into foreclosure? Would not the banks be better off refinancing at better rates or extending the life of the loan for those that are showing good faith?

All of these empty houses, condos, etc are not really doing anyone any good at this point. Counties are raising millage rates to compensate, causes the rest of property owners financial problems.

If they did that everyone would take advantage of the system and stop paying. The system only works because they kick people out who won't pay.

[vision63]

Anyone you know that need help, you need to steer them to one of NACA's loan modification events. This is the only organization that has the teeth to help in some measure. There is one today in San Jose. I have many friends that have found relief. Also, buying a house through NACA is best way to buy one.

http://abclocal.go.com/kgo/story?section.../south_bay&id=8196908

https://www.naca.com/index_main.j

[NewtonMP2100]

....'holla.....

[lemmingboy]

C(-)ris wrote:
[quote=decocritter]
At this point with the volume of foreclosures, what is the point of forcing more people into foreclosure? Would not the banks be better off refinancing at better rates or extending the life of the loan for those that are showing good faith?

All of these empty houses, condos, etc are not really doing anyone any good at this point. Counties are raising millage rates to compensate, causes the rest of property owners financial problems.

If they did that everyone would take advantage of the system and stop paying. The system only works because they kick people out who won't pay.
In my opinion the system ISN'T working anymore.