The new bad property loans

[caballoviejo]

The borrowers in trouble now are, for the most part, people who have better credit and safer loans and have become delinquent because they've lost their jobs or are dealing with other economic setbacks, economists said. More than 75 percent of the borrowers who are now seriously delinquent — meaning they have missed at least three monthly payments — have traditional prime loans, according to First American CoreLogic. Most of these borrowers have not made a mortgage payment in six months.

These borrowers are among the most difficult to help. Homeowners with economic troubles such as extended unemployment often cannot make even reduced mortgage payments. And the longer borrowers stay delinquent, the more difficult it is to fashion a mortgage relief plan for them.

http://www.msnbc.msn.com/id/35832152/ns/business-washington_post

[CrossCreekTX]

OK, now why do we need "a mortgage relief plan"? I always thought if you can't pay for something, even if it is no fault of your own, you lose that thing. So now, all of a sudden, the taxpayer is responsible for everyone's debt!

[Explorer]

I agree CCTx. I for one am so tried of the nanny society someone is trying to foster upon us (and successfully, I am sorry to say). Previous generation never went as far in dept as the current "must have generation" which consists of the baby boomers and their children. At one time people paid cash or some had a small loan to build simple houses that were more than adequate shelter against the elements. Then came the McMansions and the mini mansions.

I lay the blame on the media, mainly TV, for fostering the commercialization of America. This includes housing, cars, clothing and all the trapping of our artificial modern life. If we were just to stop buying all the crap we don't need our life would greatly improve while at the same time sinking China Mart.

[caballoviejo]

I agree CCTx. I for one am so tried of the nanny society someone is trying to foster upon us (and successfully, I am sorry to say). Previous generation never went as far in dept as the current "must have generation" which consists of the baby boomers and their children. At one time people paid cash or some had a small loan to build simple houses that were more than adequate shelter against the elements. Then came the McMansions and the mini mansions.

I lay the blame on the media, mainly TV, for fostering the commercialization of America. This includes housing, cars, clothing and all the trapping of our artificial modern life. If we were just to stop buying all the crap we don't need our life would greatly improve while at the same time sinking China Mart.

Watch out, Explorer. Someone is going to read about your beliefs and their organization will foster upon you some type of reeducation camp.

[Explorer]

Too late, I have already been fostered by the other side.