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http://www.greenfaucet.com/the-market/an-open-letter-to-borrowers-and-lenders

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moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
http://www.safehaven.com/article-10428.htm
Dear Struggling Borrowers and Lenders,

"Every day, the government is offering a new intervention for your sake: to protect the borrowers among you from foreclosure, to protect banks and investors from ruinous losses, and to protect all of you who bought houses during the boom from declining home values
 
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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Unable to connect to server now.
 

Tony V

Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
Tells it like it is........with a large helping of COMMON SENSE..
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
"There is no conflict between individual responsibility and a functioning housing market; to the contrary, the second requires the first. If we let the market function, home values would fall to some market bottom, new buyers would eagerly seize on lower home prices, borrowing from lenders who would have learned to lend rationally--and mortgage-backed securities would be valued accordingly.
"The bailout policy, on the other hand, is creating indefinite uncertainty about home values and mortgage-backed securities, exposing taxpayers to trillions of dollars in future risks, further devaluing our savings through inflation, encouraging more irresponsible behavior in the future, and creating destructive new government interventions that destroy the vital protection of contracts.
"Clearly, the just and the American solution is for all of us to tell the government that we will take responsibility for our decisions, and that no one has the right to make anyone else pay for his mistakes."


ABSOLUTELY CORRECT........and that includes ETHICAL APPRAISERS
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Whaaaaaa !
I want my mommy-government.
I don' wan' no stinkin' responsebility, don' give it to me.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
The vice chair of the Fed was cornered on that subject by congress. Isn't intervention by the Fed simply an invitation to take even greater risk because there is no risk so long as the Fed will fund anything....He crabbed sideways of course.

Moral risk...nothing moral about how our government managed this, botched this, ignored this, or have tried to fix this.
 

Kevin Little

Sophomore Member
Joined
May 25, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
And all appraisers who have fended off lender pressure, endured loss of clients and income because we would not meet a number, & have tried to do our jobs ethically and professionally, while we may not be involved in this collapse, will end up collapsing along with it, anyway. I do not see anything good coming along this road in the near future.
 
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