Calif. cities eye plan to seize mortgages

[Harry Dresden]

What's a mortgage ? OH. I remember ! I had one back in '76 for about 8 years.

Poor unfortunate sucker.

We bought our home, cash.

he bought the shack he lives in now with cash too......$200.00 American.....

 

[Trajan]

Calif. cities eye plan to seize mortgages - Yahoo! News

Makes sense to me; cities, counties and homeowners are suffering and the banks, which were complicit in this entire housing bubble burst, have thus far not only escaped penalties, they've benefited with a bailout of taxpayer's money.

eminent domain here? please...

 

[mudwhistle]

Calif. cities eye plan to seize mortgages - Yahoo! News

Makes sense to me; cities, counties and homeowners are suffering and the banks, which were complicit in this entire housing bubble burst, have thus far not only escaped penalties, they've benefited with a bailout of taxpayer's money.

Doesn't make sense.


Guess who gets stuck with the bill?

The Fed.

The mortgages they want to grab are all FHA loans.

Wonder how much that will cost the US taxpayer???

 

[tjvh]

Calif. cities eye plan to seize mortgages - Yahoo! News

Makes sense to me; cities, counties and homeowners are suffering and the banks, which were complicit in this entire housing bubble burst, have thus far not only escaped penalties, they've benefited with a bailout of taxpayer's money.

Totally destroying the housing market makes sense to you? You do understand that government meddling in the market is what caused the problem we have, don't you?

California Mortgage Seizures Could Affect $7 Billion in Bonds, Fitch Says - Developments - WSJ

Of course not; if you believe government caused the problem you're a fool (and isn't that what the GOP counts on?).

But before I'm totally convicted you're a fool - I'm 99% sure you are - explain why the government caused the housing bubble to burst. Don't simply write it's the fault of Frank and Dodd, or the greed of people who bought homes they coudn't afford, it's a bit more complicated than that. Try, and I know that would be unique for you, to think; convince me you're not the parrot your appear to be.

Fannie, and Freddie ring a bell?

 

[OpenJumper1]

They've been doing E D in NJ for years. They were hot and heavy into it at the Jersey Shore in the 1990s taking every house near the beach. The poor people and saying it was an urban blight eyesore.

Liberals love this idea yet it's their homes that went bye bye back then. They all voted Democrat Liberal in that city only to find out they were taking their homes. (
Yet they <liberals> still trust them boobs. ha!

 

[tjvh]

Calif. cities eye plan to seize mortgages - Yahoo! News

Makes sense to me; cities, counties and homeowners are suffering and the banks, which were complicit in this entire housing bubble burst, have thus far not only escaped penalties, they've benefited with a bailout of taxpayer's money.

Doesn't make sense.


Guess who gets stuck with the bill?

The Fed.

The mortgages they want to grab are all FHA loans.

Wonder how much that will cost the US taxpayer???

It's California, what doesn't cost the Taxpayer there? Not much.

 

[Stephanie]

Well it looks like they should go ahead make the name, Commiefornia permanent

 

[OpenJumper1]

Calif. cities eye plan to seize mortgages - Yahoo! News

Makes sense to me; cities, counties and homeowners are suffering and the banks, which were complicit in this entire housing bubble burst, have thus far not only escaped penalties, they've benefited with a bailout of taxpayer's money.

Doesn't make sense.


Guess who gets stuck with the bill?

The Fed.

The mortgages they want to grab are all FHA loans.

Wonder how much that will cost the US taxpayer???

Yes. and if they aren't on the FHA list I read that the Fannie's and Freddy's are also on the 'grab' list. and all they want is to destabilize this country so bad we are put in 3rd world blight....so other 'less fortunate' countries have a chance at wealth.
Obama is one big Anti Colonialist!

 

[del]

What's a mortgage ? OH. I remember ! I had one back in '76 for about 8 years.

Poor unfortunate sucker.

We bought our home, cash.

how much does a trailer go for these days?

 

[daveman]

WTF is it with leftists thinking they're entitled to things they didn't earn?

Wry, can you explain that?

I guess he can't. I suppose like most leftist ideas, there is no rational, logical explanation...it just feels right.

 

[Katzndogz]

If you think that this law is to help struggling homeowners, you just don't understand the law. The only homes subject to seizure are those where the homeowner is not struggling. Has never been so much as late with a payment. One of the criteria for losing one's home is that all mortgage payments are current.

 

[Quantum Windbag]

If you think that this law is to help struggling homeowners, you just don't understand the law. The only homes subject to seizure are those where the homeowner is not struggling. Has never been so much as late with a payment. One of the criteria for losing one's home is that all mortgage payments are current.

That is why it is so stupid, they are going to take mortgages from lenders who have done nothing wrong, pay them a fraction of their investment, and then sell them to a single mortgage company that came up with the idea. Even if it made sense to seize private property for no reason, how does it make sense to give all the profits to a single company that has political ties.

 

[Quantum Windbag]

Why hasn't Wry come back to let me know how stupid I am for not backing this brilliant plan?