Posts Tagged ‘mortgage crisis’

It’s Personal Responsibility, Stupid

Too bad that liberals will never understand why… Homeowners who should never have received a mortgage are re-defaulting, even after having their loan terms renegotiated. Meanwhile, to “bail out” the homeowner in this economic downturn the Congress is considering…. buying and renegotiating loans for homeowners nearing or in default. Go figure.

“The results, I confess, were somewhat surprising, and not in a good way,” said John Dugan, head of the U.S. Office of the Comptroller of the Currency, in prepared remarks for a U.S. housing forum.

“Put simply, it shows that over half of mortgage modifications seemed not to be working after six months,” he said.

“Homeowners re-defaulting after receiving aid”

Michelle Malkin » Duh of the day: Give bad loan risks more money, get same result

Be the first to comment - What do you think?  Posted by BobG - December 9, 2008 at 2:21 pm

Categories: Loony Left, National, Personal Responsibility   Tags: , , ,

The Truth: What Obama and McCain won’t tell you about your money

Some straight talk, not from the “Straight Talk Express” or the “Messiah for Change,” but from an American entrepreneur:

Not all homeowners deserve to stay in their houses.
Renting is a perfectly reasonable alternative, but the idea of Americans “losing their houses” is politically untenable. Why? Because America perpetuates a mistaken culture of homeownership. Owning your own home is the kind of BS sacred cow that got us into this mess: Our parents tell us to buy a house. Our friends are impressed if we own a house in our twenties. The government literally encourages us to own a house by offering tax deductions. Homeownership is the American Dream!

The Truth: What Obama and McCain won’t tell you about your money | I Will Teach You To Be Rich

Be the first to comment - What do you think?  Posted by BobG - October 8, 2008 at 12:16 pm

Categories: It Must Be Said, Personal Responsibility, Politics & Government   Tags: , , , ,

John Linder : Government Should Stay Out of Capitalist Market

We could put the 10,000 brightest people in the world in a room to attempt to find the right solution to our economic problems and they still could not make a decision as wise as the result of millions of tiny decisions made every day in the market. Markets are efficient. They punish bad behavior and reward good behavior.

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Be the first to comment - What do you think?  Posted by BobG - October 6, 2008 at 9:02 am

Categories: National, Politics & Government   Tags: , ,

Three Steps to Change the Nation’s Future

Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy.

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Be the first to comment - What do you think?  Posted by BobG - October 1, 2008 at 8:12 am

Categories: National, Politics & Government   Tags: , , ,

Mortgage Crisis: Fault the Borrower

Though politicians have worked hard to turn mortgage borrowers into America’s largest new victim class, in fact a good deal of our current financial trouble isn’t a result of predatory lending, according to Terry Jones, associate editor of Investor’s Business Daily. It’s a result of predatory borrowing. BasePoint Analytics, which looked at some 3 million loans from 1997 to 2006, found that as much as 70 percent of early defaults on mortgages involved some kind of fraud by the borrower – whether in overstating income and assets or by gaming the appraisal system. Source: Townhall magazine

2 comments - What do you think?  Posted by BobG - June 13, 2008 at 8:47 am

Categories: National   Tags: , ,