By DinSFLA 6/30/2010
She said it would step up efforts to pursue deficiency judgment—seeking to recoup the difference between the loan balance and the net proceeds of the foreclosure sale—against so-called “strategic” defaulters in states where such suits are allowed. Fannie also will lengthen to seven years, from five, the amount of time borrowers who go through a foreclosure must wait before getting a new loan.
So here is my solution, grab a pen and write this down:
- Homes have lost not a little but an enormous amount of it’s value up to 70% in some areas.
- In my opinion it is going to take more than 7 years to see any hope in Real Estate stabilization.
- Who wants to buy today when we read about possibly 8 million shadow foreclosures that will ultimately bring down the market further to dust?
- We the tax payers are the owners so who the hell asked us if this is appropriate? Were any of us invited to this meeting and discuss this? Did we have a say in this like we never do? DISCLOSURES?
- What about the possible millions that were denied a modification from no fault of their own? Oh but the Obama Administration admitted this too…too…too…late Who will be responsible for those who were improperly foreclosed on?
- With the taxes and insurance sky rocketing, it only makes sense to rent for a while.
- Deficiency Judgment? Do you realize what this little pot you stir will cause?? Hmmm think about it.
- Credit who wants credit? We don’t even know where our own money is being used.
- Who do we have to contact to foreclose on Your “arse” Fannie??? After all you are owned by us… Do not bite the hand that feeds you!
You see the threat really has no impact.
Trust is earned my friends and we have absolutely none at the moment.
The evil thing here is that instead of going after the true Run A Ways “the banks” who stole the cash you go after the ones who feed you and behind our back you feed them???
Image source: The Simpsons “Angry Mob”© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.