--- In AsburyPark@yahoogroups.com, "fancypaaantz" <[EMAIL PROTECTED]>
wrote:
>
> I thought that was odd as well, but what I think he was talking about
> was in the context of a bankruptcy proceeding so that people can stay
> in their homes. I do not think he was speaking just generally. And if
> you think about it that way, it is not totally unheard of, to
discharge
> part of a debt in the context of a bankruptcy proceeding.
>
Agreed that in BK. Should still go into foreclosure then determine the
facts. A simplified system vs BK and Foreclosure. More for Jen and
Shortsale guy to talk about.
What happens if the borrower STILL doesn't make the payments or home
prices fall further. If a home dropped in value 40%- what do you do?
Is still think let 2nd home / investment home mortgages fail.
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