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Bush's foreclosure "plan."

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Mike Boyd

Thread Starter
Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Has anyone else figured out that this plan is no more than an escape from the issue?

Payments must be current. That leaves out 50% of those in trouble.

Must have a minimum of 3% equity. There goes another 25%. (maybe more)

Loan must be no older or newer than from July, 07 back 3 years. That makes up the rest of 'em.

Is THAT what conservative means?

Well, this beats his "plan" in Iraq!
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
As we say in the south, "Just giv' em a Lit-O-Sometem-Sometem"
 
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Unbelievable to say the least. Let nature take it's course.
 

Charles Witt

Senior Member
Joined
Dec 13, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Some key thoughts! Worked out plan with banking interest.............hum........sounds like his health scenario with medicare.........a complete sell out to the drug industry......it is still not touching any correction of the problem but merely hiding the symptoms.....the people who need help are not going to be helped.......Only one more year of King George.........
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
The "plan" is akin to peeing on a roaring bonfire. :fiddle:
 

Mike Boyd

Thread Starter
Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Based on what value? The original inflated appraisal; a recent AVM; a new drive-by or full 1004?

I didn't read that but probably based on the original loan amount and sales price or appraisal.
 

The Matrix

Senior Member
Joined
Apr 28, 2003
Professional Status
Certified General Appraiser
State
Colorado
Since when is it the goverments job to bail people out of bad loans? Many of these people were rolling the cost of their 50" plasmas, boats, car loans, and credit card debt into home loans they knew they could never pay off.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
So whats the professional appraiser approved solution? I think let it sort it out by itself has already been suggested.
 
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