That's what happens when homes are sold to illegals and other irresponsible dirtbags trying to get something for nothing, and convinced they're ENTITLED to a house.

I KNEW what looked like an innocent subject line, would degenerate into another of your racial expressions.

JesseD:

I KNEW what looked like an innocent subject line, would degenerate into another of your racial expressions.

And I KNEW what looked like an innocent and TYPICALLY BORING reply from you would degenerate into squealing, 'AWK AWK racism!'

...will do with all those houses?

Why not refinance folks who are in trouble by adjusting the current balance to market appraisals?

They would take a bath...but Hell, they're getting hammered anyway.

Might be a way to keep some families in those (now empty) houses.

checkm8r:

...will do with all those houses?

Why not refinance folks who are in trouble by adjusting the current balance to market appraisals?

They would take a bath...but Hell, they're getting hammered anyway.

Might be a way to keep some families in those (now empty) houses.

Those families are idiots. They don't deserve to stay in those houses.

next year, when the option ARMs start adjusting will be better for me.

JP

for people with good credit that couldn't afford the market.

That's what happens when you get a Boy Blunder administration that refuses to provide oversight on predatory lenders.

MrTiki:

That's what happens when homes are sold to illegals and other irresponsible dirtbags trying to get something for nothing, and convinced they're ENTITLED to a house.

Much more complex issue than that, including rules changes on interest, corrupt appraisers, and mortgage bundling under fraudulent labels. Fed's already admitted to a failure of oversight and it's quite obvious that Bernanke's precipitous rate hikes from Greenspan's foolish lows, wedded to rampaging inflation that has cut disposable income, had a lot to do with it. Like most bubbles, took a lot of mistakes to create and a few small events to pop it. We'll have more to come, so we'll see what you've learned.