Real Estate Forums

San Diego Real Estate · 12-05-2007, 01:12 PM

Well I guess the whitehouse is making a move to try and help our Subprime Mortgage Industry fo-pa!

I sure hope this will ease in the fallout...

More Info> Click Here!!!!

Bigtoe · 12-06-2007, 08:21 AM

I hope they make my bank lower the rate on my above prime loan. I pay taxes too.

HHI Golf Guy · 12-06-2007, 02:39 PM

I'm going to withhold my final judgement, but something tells me that in the long run this won't be such a good idea.

The people this protects are the big banks that made bad choices by giving loans to people that were not credit worthy. Of course, it also protects the borrowers, but my guess is that for the most part these people are also the ones strapped with big credit debts.

I think these same people should have to go through credit counseling if they need to partake in this government bailout. If they don't, they will still continue to make bad credit choices and be preyed upon by shady credit card companies and lenders.

Bigtoe · 12-07-2007, 07:27 AM

What happen if the rates are up in 5 years besides the fact that George won't have to take the hit? Why couldn't the banks freeze the rates on their own? I'm confused.

lasvegasrealestate4u · 12-07-2007, 06:23 PM

At least it should help slow down all of the inventory hitting the market.

San Diego Real Estate · 12-07-2007, 09:32 PM

Here is more of the Whitehouse plan to ease the problem!

More on the Whitehouse Subprime bailout->

SEOWolf · 12-08-2007, 10:05 AM

Quote:

Originally Posted by San Diego Real Estate

Here is more of the Whitehouse plan to ease the problem!

More on the Whitehouse Subprime bailout->

That was a great read on your Real Estate Blog Al.

I’m really torn on all of this. On the one hand I realize the affect of the President’s plan will be minimal helping only a small segment of the distressed home buyers.

On the other hand, I genuinely feel that the main stream media has exacerbated the subprime debacle and that any perception of relief by the general public is a positive step for the industry.

My wife has been following this closer than I have and is trying to get her blog updated this weekend. I will post here if/when she does.

~VegasMack

HomeChoice.com · 12-08-2007, 12:55 PM

The question that sits on my mind is what are they going to do to the Sub Prime companies? The answer is simple - Nothing! My back ground has been in financial banking for the past 12 years and I was amazed by the lack of follow thru on all these loans. For the past 5 years anyone with any experience new this day was coming fast. It got so bad out there that anyone could get a loan (even if you got foreclosed less the 2 yrs ago). I have read that it was some of the subprime companies exit strategy to ride this and lend to the max and then close the doors and file protection. Meanwhile the owners and staff got rich off these loans that they all knew would one day go bad. It’s funny the LO’s knew the loans were bad, the owners knew they were making bad loans – “So why is the government bailing out?” Simply because they are admitting they had no one watching over this problem because the housing numbers (growth and consumer spending) where too important for Bush and his administration.
In the end we are all going to pay for this for years to come! That’s my 2 cents and al its worth!

Mert · 12-11-2007, 10:19 AM

This will only help every 1 out of 4 families (250K to 500K families) according to CNN analysts.

San Diego Real Estate · 12-15-2007, 08:35 AM

Now that the White House has decided to attempt to patch the Sub-prime Lending Market. When is the White House going to address the other issues that are effecting the overall Real Estate market?

I know we are very lucky to be in one of the stronger Real Estate markets in the country.

So far we have been able to sustain the San Diego County Fires and the San Diego County Foreclosures caused from the Sub-prime Crisis. Thank God for a high demand Real Estate market but we too could use some relief to assist in a faster turnaround!

Here are my 2 cents on the Bush Administration Plan - How it should affect the Overall Housing Market!

Please give me your thoughts on the Subprime Bailout Plan now that we have had time to review the White House Plan!