In a message dated 10/8/2008 10:47:09 A.M. Eastern Daylight Time, [EMAIL PROTECTED] writes:
Last one... Tired of hearing the "let's renegotiate with homeowners and lower the amounts owed on their mortgages.... based on current values..." ------------------------------------------------------------------------------ ------------------------ Repost from 10/3 about Martin Feldstein's mortgage bailout proposal where I ended by saying it was a moot point after the House bill passed. But it was resurrected last night by McCain. Full interview here _http://tinyurl.com/45dbqu_ (http://tinyurl.com/45dbqu) ======================================================== In a message dated 10/3/2008 12:44:24 P.M. Eastern Daylight Time, [EMAIL PROTECTED] writes: 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? =============================================================== Last I heard of such a proposal (to directly bailout homeowners) was by Martin Feldstein, conservative economist, chief advisor to both Reagan and now advises McCain. He opposed the original "bailout," but suggested a bill that would allow the government build a "firewall" and purchase individual no recourse mortgages up to a certain figure (e.g., maybe $80,000) to people who have mortgages. For the 10 million homes with negative equity, mortage replacement loans at very low rates. The money would go directly to the bank or mortgage holder. He thinks that minimize the defaults and foreclosures that are causing the real estate downward spiral. His segment on Charlie Rose from Tuesday, Sept. 30 can be heard here: _http://www.charlierose.com/guests/martin-feldstein_ (http://www.charlierose.com/guests/martin-feldstein) _http://tinyurl.com/45dbqu_ (http://tinyurl.com/45dbqu) It's a moot point now. The House just passed the bill at 1:27. **************New MapQuest Local shows what's happening at your destination. Dining, Movies, Events, News & more. Try it out! (http://local.mapquest.com/?ncid=emlcntnew00000001) [Non-text portions of this message have been removed] ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
