Dallas-Fort Worth Real Estate Investor Club

Feds unveil mortgage relief plan

  • 04 Mar 2009 10:46 AM
    Message # 123944
    Deleted user
    Government intends to force some lenders to modify principal balance as well as interest rates for "borrowers in trouble".  Isn't that something they do in communist countries ?
    story link

  • 06 Mar 2009 2:24 PM
    Reply # 125235 on 123944
    This comment is purely political in nature and is inappropriate for this forum.  It should be removed.
  • 07 Mar 2009 8:59 AM
    Reply # 125505 on 123944
    Robin Carriger (Administrator)

    I found articles on this at Fox News and Yahoo! News.  Whether you're a conservative, liberal, communist, or something else, this is a critical topic.  It's important for each of us to pay close attention to this bill and every other piece of real estate and financial information we can right now so we can be well positioned for what's ahead.  I believe those who are well informed will have opportunities to prosper immensely themselves as well as to benefit everyone around them.  Those who are asleep at the wheel during these volatile financial times will, at best, see their finances flatline.  At worst, they will crash and burn.  The good news is that there's no reason to crash and burn.  The information is available for those who seek it.  I encourage everyone reading this to also read both articles I referenced above.

    As for this topic, I pray that the final bill will not fall in the ditch on either side.  My personal opinion is that they need to make the law very tight on the amount of discretion a bankruptcy judge has.  Unless those judges are real estate and financial market experts, how will they be able to make proper judgments that will be in the overall best interest of our nation.  Unfortunately, I didn't see any of that language in either of the articles above.  Those who want to do their best to make a difference should contact their representative and senators to express their views.

    Whichever way this bill goes, it could dramatically affect real estate investors.  I plan to do well in either case.

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