tag:blogger.com,1999:blog-8221748.post2566912284932981752..comments2024-03-28T20:49:59.737-07:00Comments on Casaubon's Book: A Plan to Limit Foreclosuresjewishfarmerhttp://www.blogger.com/profile/17547121621115074866noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-8221748.post-40408609252129319322009-05-22T17:38:49.130-07:002009-05-22T17:38:49.130-07:00禮服店 ,酒店小姐 ,酒店經紀 ,酒店兼差,酒店打工, 酒店上班,酒店經紀PRETTY GI...<A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="禮服店">禮服店</A> ,<A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="酒店小姐">酒店小姐</A> ,<A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="酒店經紀">酒店經紀</A> ,<A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="酒店兼差">酒店兼差</A>,<A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="酒店打工">酒店打工</A>, <A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="酒店上班">酒店上班</A>,酒店經紀PRETTY GIRL <A HREF="http://www.taipeilady.com" REL="nofollow" TITLE="台北酒店經紀人">台北酒店經紀人</A> ,<A HREF="http://tw.myblog.yahoo.com/jw!qZ9n..6QEhhc0LkItOBm" REL="nofollow" TITLE="酒店經紀">酒店經紀</A> 酒店兼差PRETTY GIRL<A HREF="http://www.mashow.org" REL="nofollow" TITLE="酒店公關">酒店公關</A> 酒店小姐 彩色爆米花<A HREF="http://blog.xuite.net/jkl338801/blog" REL="nofollow" TITLE="酒店兼職">酒店兼職</A>,酒店工作 彩色爆米花<A HREF="http://tw.myblog.yahoo.com/jw!BIBoU5SeBRs21nb_ajFpncbTqXds" REL="nofollow" TITLE="禮服店">禮服店</A>, <A HREF="http://mypaper.pchome.com.tw/news/thomsan/3/1310065116/20080905040949" REL="nofollow" TITLE="酒店上班">酒店上班</A>,酒店工作 PRETTY GIRL<A HREF="http://tw.myblog.yahoo.com/jw!rybqykeeER6TH3AKz1HQ5grm/" REL="nofollow" TITLE="酒店喝酒">酒店喝酒</A>酒店上班 彩色爆米花<A HREF="http://mypaper.pchome.com.tw/news/jkl338801" REL="nofollow" TITLE="台北酒店">台北酒店</A>酒店小姐 PRETTY GIRL<A HREF="http://www.mashow.org" REL="nofollow" TITLE="酒店上班">酒店上班</A>酒店打工PRETTY GIRL<A HREF="http://www.tpangel.com" REL="nofollow" TITLE="酒店打工">酒店打工</A>酒店經紀 彩色爆米花<A HREF="http://blog.xuite.net/jkl338801/blog" REL="nofollow" TITLE="酒店兼差">酒店兼差</A>,<A HREF="http://tw.myblog.yahoo.com/jw!BIBoU5SeBRs21nb_ajFpncbTqXds" REL="nofollow" TITLE="酒店">酒店</A>,<A HREF="http://tw.myblog.yahoo.com/jw!BIBoU5SeBRs21nb_ajFpncbTqXds" REL="nofollow" TITLE="酒店經紀">酒店經紀</A>,<A HREF="http://www.mashow.org" REL="nofollow" TITLE="酒店經紀">酒店經紀</A>,<A HREF="http://www.mashow.org" REL="nofollow" TITLE="經紀公司">經紀公司</A>,<A HREF="http://www.taipeilady.com" REL="nofollow" TITLE="經紀公司">經紀公司</A>,<A HREF="http://tw.myblog.yahoo.com/jw!BIBoU5SeBRs21nb_ajFpncbTqXds" REL="nofollow" TITLE="經紀公司">經紀公司</A>,<A HREF="http://tw.myblog.yahoo.com/jw!qZ9n..6QEhhc0LkItOBm" REL="nofollow" TITLE="經紀公司">經紀公司</A>,<A HREF="http://blog.udn.com/lulala8882002" REL="nofollow" TITLE="經紀公司">經紀公司</A>,<A HREF="http://www.mashow.org" REL="nofollow" TITLE="經紀公司">經紀公司</A>,<A HREF="http://goodbaby.webdiy.com.tw/index.asp?lang=1" REL="nofollow" TITLE="童裝批發">童裝批發</A>,<A HREF="http://goodbaby.webdiy.com.tw/index.asp?lang=1" REL="nofollow" TITLE="童裝GAP">童裝GAP</A>,<A HREF="http://www.tpangel.com" REL="nofollow" TITLE="酒店經紀">酒店經紀</A>,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-47550412399481251772007-10-31T11:56:00.000-07:002007-10-31T11:56:00.000-07:00Nice Article.Nice Article.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-56307069834264184202007-10-31T11:29:00.000-07:002007-10-31T11:29:00.000-07:00FFZFaz Magnific!FFZFaz Magnific!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-70838461479716184312007-10-30T06:17:00.000-07:002007-10-30T06:17:00.000-07:00Wonderful blog.Wonderful blog.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-49442847870313090602007-10-30T02:25:00.000-07:002007-10-30T02:25:00.000-07:00Hello all!Hello all!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-4087485974771916882007-10-29T23:12:00.000-07:002007-10-29T23:12:00.000-07:00Nice Article.Nice Article.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-68407517030489722982007-10-28T07:37:00.000-07:002007-10-28T07:37:00.000-07:00Hello all!Hello all!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-47739936002278631562007-10-27T13:01:00.000-07:002007-10-27T13:01:00.000-07:00Thanks to author.Thanks to author.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-26985018466953080192007-10-27T12:12:00.000-07:002007-10-27T12:12:00.000-07:00Wonderful blog.Wonderful blog.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-90527418718354531412007-10-26T12:14:00.000-07:002007-10-26T12:14:00.000-07:00Hello all!Hello all!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-35198386777954912882007-10-26T12:00:00.000-07:002007-10-26T12:00:00.000-07:00KaBcaL actually, that's brilliant. Thank you. I'm ...KaBcaL actually, that's brilliant. Thank you. I'm going to pass that on to a couple of people.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-8495658885970752692007-10-26T11:01:00.000-07:002007-10-26T11:01:00.000-07:007cdDsC Nice Article.7cdDsC Nice Article.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-92004307808587121452007-10-26T00:47:00.000-07:002007-10-26T00:47:00.000-07:00RtotB8 Your blog is great. Articles is interesting...RtotB8 Your blog is great. Articles is interesting!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-43184778996874701522007-10-12T17:31:00.000-07:002007-10-12T17:31:00.000-07:00Not all of the trillion dollars in ARMs are going ...Not all of the trillion dollars in ARMs are going to default, certainly not all in the same year, and the horizon isn't as bad in the following time frames. So a bailout wouldn't be quite that bad. But if more than a few percent of them default in any one year, a lot of banks are going to collapse, and at the very least that will mean the FDIC will be paying large bailouts out of the tax coffers. One attitude that will sway a lot of DC folk is that it will be a bailout now or a bailout later. But yeah, it will be ugly either way.<BR/><BR/>Company houses are a good economic idea in many cases, I know some big companies use them, universities usually offer that for grad students and such too. But they tend not to be very long term solutions. I don't know anyone that stays in that situation more than a few years. Having your employer be your landlord too, kinda sucks, Ill bet, too much opportunity for systemic abuse. <BR/><BR/>And as I understand it anonymous, it isn't usually the lenders that are taking a bath on the mortgage collapses. They've re-sold the mortgages to someone else, and typically badly obscured the risks involved, and the corporate risk accounting system nodded, winked, touched their nose and looked away. Now no one trusts the risk ratings and their is a credit crisis. The first casualties back in late August were a bunch of little German Banks that went under, turns out they'd bought up all kinds of bogus British mortgages that went south. Its a weird, weird global economic system, and sometimes who gets shafted when things blow up is highly counter-intuitive. The housing foreclosure crisis in the US might wind up destroying Brazil, or the aluminum industry, or the American Heart Association or something.<BR/><BR/>-Brian M.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-80897153291369740802007-10-12T07:02:00.000-07:002007-10-12T07:02:00.000-07:00If the mortages are going to be forgiven, they won...If the mortages are going to be forgiven, they won't be repaid. Of course, in many cases they aren't going to repaid anyway. The lenders are going to take a bath either way. If people get to remain in their homes, there is a little less dislocation in society, that's all.<BR/><BR/><BR/><BR/>I don't see it happening.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-29625593546032360612007-10-11T13:50:00.000-07:002007-10-11T13:50:00.000-07:00MEA, some sort of mortgage forgiveness might work,...MEA, some sort of mortgage forgiveness might work, but who's going to pay for it?<BR/>If you had the funds, refinancing these to a 0% loan like Habitat for Humanity does would probably be fair enough (perhaps with some caveat that the owner has to have lived in the house a certain amount of time or not own more than one house) and certainly a moral option, but where's the money going to come from? The feds don't have a savings account, though there are some states that do, and perhaps those states can and will do something for their people. If taxes (and I include inflation as a tax) go up to pay for this, how many more people will that put out of their homes, owners and renters? There's 1 trillion dollars of ARMS due to reset in the next eighteen months. Just to bail out those people and none of the others will cost us each over $3,000. (Did I do that right? 1 trillion divided by 3 hundred-million . . .) That'd be more than a third of our yearly gross income. That's a huge bite. (Now if you could somehow get the feds to cut spending in other areas mortgage help might be feasible, but we know that's not likely.)<BR/><BR/>State based solutions are likely more affordable: like I said, a few states have surplus acounts, and as Brian pointed out the problem has different shapes in different areas. But then I'm almost always in favor of solving the problem through the politicians you can go yell at when they do something stupid than those who are thousands of miles away. In urban areas, allowing people in single family zoned areas to rent out rooms might cut down on forclosures.<BR/><BR/>Brian, one option to get people into better housing situations for the modern 2-3 year employment situation might be the old company house idea. Teton County (Jackson Hole) is doing that for their employees because otherwise the employees can't afford to live there, and Haliburton built a hotel to house their workers here. You'd have to make it tax positive for companies to do it in most areas, and maybe model it off of COBRA in that the company couldn't just fire and evict you, but you'd have the option to rent for six months, or something similar.<BR/><BR/>It'd be nice, and helpful, if we could get our states to give up the two heartbeats/room laws, too. I understand why those laws were passed, but they're going to make things worse for families in the years to come.BoysMomhttps://www.blogger.com/profile/05474788412440788887noreply@blogger.comtag:blogger.com,1999:blog-8221748.post-89868715656045195902007-10-11T09:13:00.000-07:002007-10-11T09:13:00.000-07:00Good luck on rainfall and snowfall!Also, one more ...Good luck on rainfall and snowfall!<BR/><BR/>Also, one more thing to expand upon Robyn and Boysmom's points.<BR/><BR/>One of our Ethics Bowl cases this year is about the Payday Loans industry. A huge chunk of the problem, in California AND Indiana is predatory loaning. The upscale outfits target well-off folk and try to get them into the lifestyle of condo flipping, and get them to buy more house than they can really afford, and use gimmicky tricks like ARMs or teaser rates. As Buckaroo says, these aren't inherently wrong, they can be good ideas in some very specific situations. But they are wrong for most of the people who use them and the lenders zogging well know it (even if they don't pass that information on to the mortgage markets). And this is a big part of what overheats and drives up the prices in the active markets.<BR/><BR/>But the same basic thing happens in different form to the low-scale market too. They get seduced into a cycle of using credit cards or payday loans, occasionally when things are tight, like for unexpected medical co-pays near the end of a month, or Christmas. And once you take a nibble, the system is designed to make you use it again and again. 91% of people who use payday loans, use them 5 or more months a year. And revolving credit card debt and refinancing scams are almost as bad, and even pushier.<BR/><BR/>The banking system is leveraged to the hilt, and in bed with predatory lenders. And a lot of our problems are reaping the consequences of the predators' success.<BR/><BR/>Brian M.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-34636037850658381632007-10-11T08:36:00.000-07:002007-10-11T08:36:00.000-07:00Lisa, I'll happily hope for a good 100" base in th...Lisa, I'll happily hope for a good 100" base in the Sierras; if you could spare a kind thought for the Wasatch and Uintas in exchange, I would be obliged to you.<BR/><BR/>My father asked about local holidays; I told him the happiest one for me was the opening day of ski season, as it meant there was enough of a snowpack that if the spring run-off didn't come too early or too warm, the reservoirs would fill and the artesians could recharge a bit -- and I could have showers in the summer, and with raised beds and ollas I could even keep my veg beds going.Unknownhttps://www.blogger.com/profile/10709913574859582445noreply@blogger.comtag:blogger.com,1999:blog-8221748.post-63243856645173026932007-10-11T08:33:00.000-07:002007-10-11T08:33:00.000-07:00Thanks Brian for your comment, that was illuminati...Thanks Brian for your comment, that was illuminating. I guess I just see the bubble areas where it is the huge increase in values as "the problem", but you're right, it isn't that way all across the nation.Anonymoushttps://www.blogger.com/profile/11225461272433881041noreply@blogger.comtag:blogger.com,1999:blog-8221748.post-24464567780630641642007-10-11T07:22:00.000-07:002007-10-11T07:22:00.000-07:00One real problem is that the housing situation and...One real problem is that the housing situation and its problems just work differently from place to place.<BR/><BR/>In some places it is people who always thoughtthe market was going up who are in trouble. They think of there house as part place-to-live and part investment. When the investment side tanks they are stuck, or walk away. There is a real problem with bailing out investors, it screws with the incentive system.<BR/><BR/>But that's not how it is here. Southern Indiana has the second highest foreclosure rate in the country, even though the market isn't over-heated and is much cheaper. 415,000 would be a palace here, not "house-poor." The problem are job-loss, medical bills, and income squeezes. The people two houses up from us were evicted, from a (probably, about) 70,000$ home. Their house hadn't even lost value, they just couldn't pay for it anymore. Were they foolish to buy it at the terms they did? I doubt it, they probably could affords it when they got it. But things happen. Their house wasn't in a cul-de-sac to begin with, and they could still rent this year, but I seem to recall it was a rental property on skid row, and it probably costs almost as much (or more) than the house payments they couldn't afford, and they'll probably be homeless or squatting or have givent eh kids to the grandparents or something in a year or two unless they get a turn of good luck. Certainly our house payments are less than our rental payments in the same town were (although we weren't renting on skid row). Here it isn't the folk in the nice houses foreclosing, their jobs tend to be more stable and keep up with inflation better, and they have more cushion, its the folk trying to get out of the trailer parks. And there are still many empty houses in our neighborhood, because the owners would rather keep them empty than to sell them quite as low as the poor folk in the trailer parks can afford to buy them. Tonight we'll dine with two other families who just moved out of the trailer parks for the first time this year, crossing their fingers that they can keep the little cheap houses they've bought. And one of them is an IT systems administrator at a local factory.<BR/><BR/>Honestly, no one can really afford a 30 year, or even 20 year mortgage any more, even fixed rate, even with low terms. Even if you can make the monthlies - this year. Because no jobs are stable over a 20-30 year horizon anymore. Certainly job incomes in real purchasing parity power aren't. Especially this 20-30 year horizon. Any business model that makes sense now in a (fairly) cheap-energy economy won't make sense later in an expensive energy economy. In a sense, ala Buckaroo, the problem is that no one can give any investor, no matter how well informed, an honest appraisal of the risks over the 20-30 year horizon, because the whole frickin society and economy is at real risk, rather than individuals being "risks." <BR/><BR/>Now Indiana isn't the same as California or even Idaho, so I don't know what the solution is. part of what is so frustrating about housing and the dollar, is that it is so out of whack in differetn parts of the US. But a well-crafted policy needs to help folk out of the trailer parks and into empty houses, as well as discouraging investors from over-inflating prices in overheated markets. <BR/><BR/>-Brian M.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-9334741773751361992007-10-11T06:08:00.000-07:002007-10-11T06:08:00.000-07:00Hi, Boysmom. Well, given that the economy is going...Hi, Boysmom. <BR/><BR/>Well, given that the economy is going to tank anyway, why not come up with a scheme where by people who can't manage the mortage get to keep the house. The lenders will take a bath, and it isn't "fair" to people who paid for their house, but we'll have fewer dislocated people.<BR/><BR/>I can only speak for my local area, but while the people with grand houses can (if they can sell) move into something smaller or rent, the people I'm seeing have reached the point where they are so streched that coming up with 1st month/last month is beyond them. There is very little affordable rental around here.<BR/><BR/>Aside from that, I think about the children and they fact that the last thing they need is the stress of a move.<BR/><BR/>MEAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8221748.post-4058876197517897102007-10-10T21:45:00.000-07:002007-10-10T21:45:00.000-07:00The water situation out here in California is pret...The water situation out here in California is pretty bad. My husband is from the midwest, I'm a native - he thinks "if its yellow let it mellow, if it's brown flush it down" is gross...but I'm trying to teach him that water is a valuable resource we must conserve out here in the west.<BR/><BR/>It's finally starting to rain, so we'll see what the winter rainy season brings. We live about 4 miles from the reservoir that feeds our area, and we drove up to Lake Berryessa in Napa a few weekends ago. Both are so low, lower than I can remember in my lifetime. It's time to pray for a massive snowpack in the Sierras, because I don't know what will happen next summer if we don't fill up our water supply.<BR/><BR/>This is our reservoir:<BR/>http://3dparks.wr.usgs.gov/3Dbayarea/html/CrystalSprings.htm<BR/><BR/>Those are old pictures, when it was full. There are large islands visible now, and the shoreline has contracted considerably.Anonymoushttps://www.blogger.com/profile/11225461272433881041noreply@blogger.comtag:blogger.com,1999:blog-8221748.post-53705460827890317932007-10-10T21:37:00.000-07:002007-10-10T21:37:00.000-07:00You make some good points Robyn, I guess there are...You make some good points Robyn, I guess there are many scenarios that could play out. Here's one that I think of:<BR/><BR/>Japan had a housing run-up, and a deflating economy with falling to stagnant real estate values for the last 18 years. Let's say you bought a house for $700,000 in 2006. You can't afford the payments once they adjust beyond the teaser rate, and your house is now worth 625,000. So, you go through bankruptcy and the banks eat the cost differential. The payments are still high, though.<BR/><BR/>Now it's 5 years later. Your house is now worth 415,000 or less. You are still house poor, and it looks like you'll be stuck in the house for the rest of your life because the difference between the market value and what you owe on the mortgage won't allow you to sell. I can't imagine that at some point you wouldn't just walk away.<BR/><BR/>Oh, and if you lose your house to foreclosure, it doesn't mean homelessness. You don't necessarily go from a 3 bed, 2 ba on a cul-de-sac to skid row. You just have to rent. <BR/><BR/>I'd rather see foreclosure forgiveness - a government guaranteed mortgage for people with a foreclosure on their record. That's all an FHA loan is - the government will pay 99 cents on the dollar for a first-time homebuyer loan that fails. <BR/><BR/>I don't know, maybe the systemic risk of too many foreclosures is too great and we need to keep people in these homes so they can pay some off some of the fraud.Anonymoushttps://www.blogger.com/profile/11225461272433881041noreply@blogger.comtag:blogger.com,1999:blog-8221748.post-39770549096469143802007-10-10T15:10:00.000-07:002007-10-10T15:10:00.000-07:00People who were misled as to the terms of their lo...People who were misled as to the terms of their loan deserve help. But I don't see anyway to sort them out from those who thought that prices would keep going up and they'd make a profit in five years on the sale. Do you? <BR/><BR/>We didn't have money to buy at peak. We didn't have hardly any income. I can't take credit for that. But I do drive my husband nuts by reading the fine print. On everything. We do live in a buyer beware society, and people in general ought to be aware of that.<BR/><BR/>MEA, I just don't see how it can be done without bailing out the lenders who started it all. Which is going to cost all of us even more. How much more debt can the government take? How much more taxes can we pay? How much more inflation can we suvive? Where else can this amount of money come from? The longer we put off paying the piper the bigger the bill's going to be.BoysMomhttps://www.blogger.com/profile/05474788412440788887noreply@blogger.comtag:blogger.com,1999:blog-8221748.post-66213658829103766762007-10-10T14:27:00.000-07:002007-10-10T14:27:00.000-07:00I think there is a lot of feeling that people who ...I think there is a lot of feeling that people who made bad purchases, who didn't understand what they were signing (esp. people who trusted translators) and people who were trying flip don't deserve to be helped. And generally whoever is posting about this, ends up by saying, some about how he or she had the sense not to buy a peak. Well, hindsite is 20/20, isn't it? But I think feeling like that will make it hard to get a law passed to help people. And I have a horrible feeling it will help those who are better off, rather than those at the very bottom.<BR/><BR/>Society is going to take a bath on this. But it would be nice if we could avoid an explosion of homelessness. We're seeing more and more people at the soup kitchen becuase the landlord was forclosed upon.<BR/><BR/>MEAAnonymousnoreply@blogger.com