Friday, May 09, 2008
They sowed the wind, and now they are going to reap the whirlwind.
The Economic Times: High mortgage foreclosure rate has hit broad economy
Federal Reserve chairman Ben S Bernanke, seeking to end the worst housing slump in a quarter century, urged the government and mortgage lenders to intensify their efforts to avoid home foreclosures.
Hey honey...let's pretend we can't afford to pay the mortgage - and stay here for free!
Also see: www.hopenow.com
Posted by rental john @ 06:40 PM (76 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
1. plato said...
What they are really worried about is property prices dropping to an affordable and natural level so that people aren't indebted for the whole of their lives. Otherwise they'd wipe the debts,make sure prices dropped to where they should be and regulate the market responsibly. Simple as that!
2. last_days_of_disco said...
I think the problem is whatever "solution" they come up with, they are simply going to expose the system to massive fraud.
And fair enough, its time for us to get our own back on the banks. Everyone should just walk away from their over priced mortgages and go bankrupt. Once the ball starts rolling, everyone will be doing it and it will lose any stigma it may have had.