patrick.net

The investors ultimately get the shaft and that is everyone that has bank stocks and mutual funds. I hope the public rises up against yet another give a way program.

Quick everyone, stop paying your mortgage!

Yeah, where's the bailout for those of us that can easily afford our homes, have reasonable 30 year mortgages, and are upsidown? Where the hell is my free money??

I keep saying my husband and I should have bought the nicest house in Orinda for a million or more, right now we'd probably be "distressed" and could qualify for free handouts and have a house in Orinda for the same price..

This seems like a horrible deal. More bail outs? More taxpayer money give away to those who overborrowed against the future debt of America passing the debt to the rest of the taxpayers?

I'm completely against this. Going to contact my senator(s) now, because nothing more pisses me off than more bail outs.

At this rate they might as well force all the landlords to lower rents, all the banks to give money out, and all the farmers to farm for free. And when the game is over yet again and we are broke the retired administration cay say "oops we were wrong".

Forget about the old America - the parasites are charge now.

Banksters and thier FB modern day serfs will continue to be in charge for a long time probably....

lurking says

The investors ultimately get the shaft and that is everyone that has bank stocks and mutual funds. I hope the public rises up against yet another give a way program.

America has to wake up in many ways!

Yes its RIDICULOUS the op thinks this is 'all over'! haha. Its just started! And it will last the rest of our lives.

There are millions of loan mods they ALREADY DID. (2% interest rate which only applies to part of the principal is common). These loans will be around for 30+ years - I know they are supposed to be '5 year mods' that is BS - they will get extended permanently. This will kill job growth and keep house prices artifically high by keeping deadbeats in homes they cant afford. Its like S-8 for homeowners.

Meanwhile they are writing loan mods by the thousand and short sales are racheting up.

So I guess the trend with the feds is going to be 'a home should only cost 31% of your backend DTI!' Which means bailouts/freeebies 4eva.

Obama told us he would 'spread the wealth' - this is it people! Vote democrat! lolz.

http://www.americanbankingnews.com/2010/07/20/bank-of-america-loan-modifications-total-650000-nyse-bac/
(this is only ONE bank..yes its the largest......but the total is from last summer)

toothfairy says

Now that the strategic defaulters and short sellers are out of the system generally the only ones left are people who did the right thing and are now getting their bail out.

Huh? In the little bubble desert city of Hemet, with a little population of 74,000 total, there are 367 homes in preforeclosure, that have gotten a Notice of Default, but without an Auction date yet.

Those are the future strategic defaulters and short sellers that you claim are out of the system. Those who pay their mortages and taxes on time can bail out these deadbeats: