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Bankrupting America
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 761971" data-attributes="member: 12570"><p>Wouldn't it make more sense for these lenders to work with the homeowners to try to keep them in their homes? I realize that in a lot of these cases the lenders had no business approving some of these mortgages but for those homeowners who did not buy more than they could afford, had been paying all along and now, for reasons beyond their control, are no longer able to pay, you would think something could be done? I'm sure they would rather have someone in the home instead of having it sit there.</p><p> </p><p>I go through the foreclosures in the local paper and some of the amounts owed amaze me, especially since I know that the house is not worth nearly what is owed. I also see foreclosures where the amount owed is relatively small, sometimes less than $25K. I would think that in cases like this the lenders could work with the homeowners.</p><p> </p><p>This is an opportune for someone looking to buy, whether for investment or occupancy.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 761971, member: 12570"] Wouldn't it make more sense for these lenders to work with the homeowners to try to keep them in their homes? I realize that in a lot of these cases the lenders had no business approving some of these mortgages but for those homeowners who did not buy more than they could afford, had been paying all along and now, for reasons beyond their control, are no longer able to pay, you would think something could be done? I'm sure they would rather have someone in the home instead of having it sit there. I go through the foreclosures in the local paper and some of the amounts owed amaze me, especially since I know that the house is not worth nearly what is owed. I also see foreclosures where the amount owed is relatively small, sometimes less than $25K. I would think that in cases like this the lenders could work with the homeowners. This is an opportune for someone looking to buy, whether for investment or occupancy. [/QUOTE]
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