Comments on: Thoughts on the Foreclosure Moratorium http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/ Moving beyond the basics Thu, 04 Dec 2008 06:50:02 +0000 http://wordpress.org/?v=2.2.2 By: Carrie http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-23720 Carrie Mon, 07 Apr 2008 00:40:43 +0000 http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-23720 I agree totally. delaying the foreclosure process is only that a delay. Working with homeowners in trouble, I find that many who get a loan modification still can't keep up. Some of these foreclosures (unfortunately) just need to happen. Economic cleaning. I agree totally. delaying the foreclosure process is only that a delay. Working with homeowners in trouble, I find that many who get a loan modification still can’t keep up. Some of these foreclosures (unfortunately) just need to happen. Economic cleaning.

]]> By: Tom http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-17544 Tom Sun, 17 Feb 2008 19:42:55 +0000 http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-17544 It makes me mad to think that we have to feel sorry for the people that can't manage their own money problems. It would be SO nice if nobody ever bailed these people out, how are they supposed to learn? It makes me mad to think that we have to feel sorry for the people that can’t manage their own money problems. It would be SO nice if nobody ever bailed these people out, how are they supposed to learn?

]]> By: Patrick http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-17459 Patrick Sun, 17 Feb 2008 03:56:52 +0000 http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-17459 I'm not a big fan of consumer bailouts in most cases, and this is one of them. This will probably help a few people out, but overall, I think it will just cost a lot of money. But, I'm sure it looks "good on paper" for the politicians and banks involved. I don't think it will have very much effect on our economy though. I’m not a big fan of consumer bailouts in most cases, and this is one of them. This will probably help a few people out, but overall, I think it will just cost a lot of money. But, I’m sure it looks “good on paper” for the politicians and banks involved. I don’t think it will have very much effect on our economy though.

]]> By: Bret Frohlich http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-17381 Bret Frohlich Sat, 16 Feb 2008 06:24:45 +0000 http://advancedpersonalfinance.com/thoughts-on-the-foreclosure-moratorium/#comment-17381 I'm not a big fan of consumer bail-outs either. And, there is no doubt that many mortgage holders have acted irresponsibly. However, I believe the banks share a lot of the blame for the foreclosure mess and I'm glad to see them eating a big part of the loss. They have incentivized mortgage brokers into putting many people with good credit scores into bad loans. And, at a time when the prime interest rate is historically low, the interest rates on many mortgages are indexing up to unreasonable levels. I think, the banks are the biggest part of their own problem. They need to "get real" with their interest rates and underwriting standards. I’m not a big fan of consumer bail-outs either. And, there is no doubt that many mortgage holders have acted irresponsibly. However, I believe the banks share a lot of the blame for the foreclosure mess and I’m glad to see them eating a big part of the loss.

They have incentivized mortgage brokers into putting many people with good credit scores into bad loans. And, at a time when the prime interest rate is historically low, the interest rates on many mortgages are indexing up to unreasonable levels.

I think, the banks are the biggest part of their own problem. They need to “get real” with their interest rates and underwriting standards.

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