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4 Bumps

Do you agree with how the Obama administration is handling the mortgage crisis?

don't knock the source, the piece makes a lot of sense..

 
lovinangels

Asked by lovinangels at 7:24 PM on Oct. 27, 2010 in Politics & Current Events

Level 39 (112,638 Credits)
This question is closed.
Answers (16)
  • NO!! All they did was prop up the housing market, keeping already overinflated prices high, which prevented the natural "ebb and flow" of the housing market cycle, it prevented people from buying homes at lower costs, and kept people in homes they would not be able to afford 6 months later, when their mortgage payment "grace period" ended--because the price was still artificially high!!

    Unless homeowners who were "over their heads" in debt, suddenly got a windfall inheritance or a much better paying job during that grace period, how were they suddenly going to be able to make their monthly payments?

    Unfortunately, the housing market has not yet bottomed out!
    LoriKeet

    Answer by LoriKeet at 8:00 PM on Oct. 27, 2010

  • Kerpie......Bill Clinton in cooperation with Barney Franks and others put in place the legislation that vamped up the housing crisis. YOu can deny all you want, but the democrats insisting that banks behave PC instead of like a business are the cause. Not the repubs, and not GWB - the dems. http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.html

    jesse123456

    Answer by jesse123456 at 10:01 PM on Oct. 27, 2010

  • NO! If the gvt allows all of these foreclosures to occur, they know that our economy could collapse. What makes me crazy are the market values, there's the real estate value, the county &/or city property tax value & the homeowner's property insurance value. I am a Realtor & I recently represented a buyer in an auction transaction, the home value according to the county is considerably more than the price paid. The homeowner's insurance company said WOW, you walked into this home with a ton of equity! So the property insurance is being billed as if the property values have not decreased & of course, IF the seller could have sold the home for what the ins com. is valuing the property for, they certainly would have done so. It appears that homeowners are the only ones getting burned! I hope this makes sense, it's just another example of how things are so messed up. Frankly, I find it all very unfair & very worrisome.
    agentwanda

    Answer by agentwanda at 9:04 PM on Oct. 27, 2010

  • Mortgage companies gave risky loans because they were told to do so, by the gvt,.. Fannie and Freddie backed them & bought them & that is the main reason we are in this disaster!
    agentwanda

    Answer by agentwanda at 9:08 PM on Oct. 27, 2010

  • jesse123456

    Answer by jesse123456 at 10:05 PM on Oct. 27, 2010

  • Lori said it better than I could have.
    jaycietaylorgma

    Answer by jaycietaylorgma at 8:11 PM on Oct. 27, 2010

  • No, I don't agree with how they handled or are handling it. Throwing money at a problem never fixes the problem, it only delays the consequences.

    QuinnMae

    Answer by QuinnMae at 10:37 AM on Oct. 28, 2010

  • SO.....I would say this housing crisis began in 2006-2007


    kerpie, the links show the housing crisis didn't start in 2006. It began slowly and with the dem (Carter to be exact). So, you think you "dodged" this one because PBO wasn't mentioned, but you didn't mention him in your post. You tried to blame the republicans and this issue is weighted towards the dem. You can't dodge this by saying it doesn't matter because PBO wasn't mentioned. The proof is there, and he has handled it poorly..........like most everything else he has handled.

    jesse123456

    Answer by jesse123456 at 4:58 PM on Oct. 28, 2010

  • lovinangels

    Comment by lovinangels (original poster) at 7:25 PM on Oct. 27, 2010

  • Kerp, did you read the article?
    lovinangels

    Comment by lovinangels (original poster) at 8:22 PM on Oct. 27, 2010