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POPSUnder Bush, or Obama, the results will be the same 1. If you are unemployed, or lost a substantial part of your income, or being screwed on credit cards, you won't get a modification. 2. If your home has lost too much in value as compared to debt, you won't get a modification. 3. Even if you get it, your odds of defaulting are still better than 50% in most cases. 4. Calling it something else, while doing the exact same thing that has failed twice already, would only work in fairyland. Apparently, we are in fairy land
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POPSPlease quit listening to "expert"! Wow, wish I lived in these people's world. Unemployment is skyrocketing every day, people are being moved from full time to part time (could you pay your mortgage on 50% of your pay?), and this guys thinks that a "moratorium" on foreclosures will help? Banks are barely issuing mortgages NOW, you allow this to happen and they will stop altogether. And finally, the reason December sales "grew" was because of nationwide AUCTIONS. This is not a positive. We are not 3/4s of the way through, we aren't even 1/2 way there. Hope you all are stashing cash (at home, not banks) and stocking up on food, when all these foolhardy plans are finally stopped-as they will have to be-we will see the real trouble.
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