• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Government Intervention on foreclosures

Status
Not open for further replies.
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
It's hard to know what the future will bring, but it does not look good. We who saw it all happening are not a bit surprised.

So far, the plan does not call for a US government bail-out. A bail-out for the lenders is almost certain, if things get bad enough. The US government will try to slip it to us in small doses, to make it less noticeable. Some degree of subterfuge on their part can be expected.

Tom
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
I'm hearing that the federal government is telling large banks to come to an agreement within a week on freezing rates on certain types of adjustable loans, or else the Feds will do in unilaterally.

We shall see... :unsure:
 

moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
I doubt if they can do anything significant. The big banks that are trying to freeze foreclosures are not in the possession of those loans. They only service them for a fee. They have already made their money from those bad loans and sold them to investors. They cannot change the term of those loans without the permission of their owners who are investors. If they do, it is going to be out of their scope of work and they are going to be subject to litigation by investors.
I think this is only A PR to tell people that they are trying to help.
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
I'm hearing that the federal government is telling large banks to come to an agreement within a week on freezing rates on certain types of adjustable loans, or else the Feds will do in unilaterally.

We shall see... :unsure:

Can the Federal Government unilaterally without due process of law void all contracts and in their place institute new contracts with more lenient terms? I don't think so and if they try this thing will stay in courts until the cows come home. Not to mention the negative effect this will have on the securities markets.

The significant thing about the attempt to do this is to remove the fog and allow the world to see this sub prime market, any sales with a LTV ratio greater than 80%, for what it is. A welfare program. All the GSE's are quasi government welfare lenders. They try to hide it by stating: "IMPLIED GOVERNMENT BACKING." It is implied until the bottom falls them it is applied. :fiddle:
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
I'm hearing that the federal government is telling large banks to come to an agreement within a week on freezing rates on certain types of adjustable loans, or else the Feds will do in unilaterally.

We shall see... :unsure:

I heard the same...I hope they do...My rate adjusts in November of 08. I would love to lock it in at 4.75%!!

And to all of you who locked in at 5.5......

SUCKERS!!
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
So far, the plan does not call for a US government bail-out. A bail-out for the lenders is almost certain, if things get bad enough. The US government will try to slip it to us in small doses, to make it less noticeable. Some degree of subterfuge on their part can be expected.

Tom,
I couldn't agree with you more.
 

Dee Dee

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I heard the same...I hope they do...My rate adjusts in November of 08. I would love to lock it in at 4.75%!!

And to all of you who locked in at 5.5......

SUCKERS!!

Yep. Those of us who were fiscally responsible and didn't sign up for something we couldn't afford are the true losers.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Yep. Those of us who were fiscally responsible and didn't sign up for something we couldn't afford are the true losers.



Bingo!


TC
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
So who will buy MSB'S (Mortgage backed securities) if the terms can change , thus the rate of return can be changed at the whim of some bloated bureaucrat.Answer: No one.If you think the credit has dried up now , wait till this little scheme gets under way.Quick , buy some Beans and Ammo..
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks