Caution on the Bush Mortgage Plan


	Caution on the Bush Mortgage Plan

davboz

12-12-2007 3:45 AM

242 views

davboz says:

Today,less than 1% homeowners in foreclosure.

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12-12-2007 4:27 PM

n2sooners

Who cares if it is less than 1%, it is a disaster I tell ya, a disaster.....

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/fbbdf0d6-47f2-4ec9-b59e-022c6b008bb1/28498BD9-E831-4E50-A839-7030242218A0/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=" href="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=" style="font-size: 11px;">corner.nationalreview.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=">At the very least, if the Bush Administration plan is truly voluntary, it’s unnecessary. Loan holders and servicers have plenty of incentive to do that themselves.<SPAN>  </SPAN>No one sitting in a central office can hope to set the right mortgage terms for millions of borrowers, lenders, and investors</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=">the five-year interest rate freeze by its design would pretty much have only negative effects and worsen the credit slowdown</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=">pressuring the rewrite of millions of mortgage contracts, the Paulson plan could have even greater costs on the economy as well as future aspiring homeowners</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ="> while foreclosure rates have significantly increased, the percentage of homes in foreclosure is still less than 1 percent,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ="> But the credit market is nervous because of housing market unpredictability and the flaws in methods it previously used for valuing mortgage-backed securities</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=">The urge to “do something” by forcing the changing of contracts could make the credit market diminish even further.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://corner.nationalreview.com/post/?q=NjJmMjZkNGM1MDZiZDc5NWJmNjE5YmIzMTgzMTI3OGQ=">More from John at <A href="http://www.openmarket.org/2007/12/06/i-mortgage-the-case-against-paulsons-contract-nullification-bailout/">OpenMarket</A>.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/28498BD9-E831-4E50-A839-7030242218A0/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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