I've been through this type of market before. I'm old enough to remember and to have felt the S&L crisis that hammered Texas in the 80s. The big difference, banks were allowed to fail, there were no bailouts for banks or homeowners. Within a few years, the real estate markets were showing signs of life.
If the government would have stayed out of the current mess, we'd likely be looking up instead of wondering where about the bottom.
If a mortgage company and a debtor want to modify their contract, I'm all for it. If the government is behind the scenes twisting arms, it's nothing but trouble.
to post a reply:
login - or -
register