Comments on: Obamas Foreclosure Plan – I Will Pay for Your Home! http://www.polemics.us/obamas-foreclosure-plan-i-will-pay-for-your-home/ Step Up and Take a Side Thu, 22 Apr 2010 15:05:13 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Jeff Jones http://www.polemics.us/obamas-foreclosure-plan-i-will-pay-for-your-home/comment-page-1/#comment-95 Jeff Jones Fri, 20 Feb 2009 16:28:03 +0000 http://www.polemics.us/?p=148#comment-95 I totally agree that anything that forces creditors to take one extra look at a potentially bad loan is a good thing. I've always hated the fact that a company could allow a person to take a loan they barely qualify for and then cause them so much heartache foreclosing only to write the loan off of their books anyway All this as an acceptable business loss. Completely unacceptable to our economy in any condition but especially now. I totally agree that anything that forces creditors to take one extra look at a potentially bad loan is a good thing.

I’ve always hated the fact that a company could allow a person to take a loan they barely qualify for and then cause them so much heartache foreclosing only to write the loan off of their books anyway

All this as an acceptable business loss.

Completely unacceptable to our economy in any condition but especially now.

]]> By: house » Blog Archive » Obamas Foreclosure Plan - I Will Pay for Your Home! | Polemics http://www.polemics.us/obamas-foreclosure-plan-i-will-pay-for-your-home/comment-page-1/#comment-94 house » Blog Archive » Obamas Foreclosure Plan - I Will Pay for Your Home! | Polemics Tue, 17 Feb 2009 20:19:58 +0000 http://www.polemics.us/?p=148#comment-94 [...] unknown wrote an interesting post today onHere’s a quick excerptThis week, President Obama is planning to release an all new Foreclosure Plan, designed to help stem the flooding of foreclosures and bankruptcies in this. [...] [...] unknown wrote an interesting post today onHere’s a quick excerptThis week, President Obama is planning to release an all new Foreclosure Plan, designed to help stem the flooding of foreclosures and bankruptcies in this. [...]

]]> By: Eugene B. Berman http://www.polemics.us/obamas-foreclosure-plan-i-will-pay-for-your-home/comment-page-1/#comment-93 Eugene B. Berman Tue, 17 Feb 2009 19:29:28 +0000 http://www.polemics.us/?p=148#comment-93 The only effective way in which to address the present foreclosure crisis is to amend the Bankruptcy Code and allow Bankruptcy Judges to modify residential mortgages in the same way the court can "cram down" all other secured debts. Maybe an amendment to the Bankruptcy Law will force lending institutions to exercise better credit judgment and recognize that the lender must assume the risks of its credit decisions. The present Bankruptcy Code obsolves lenders of the risks of their own greed and predatory lending practices. The only effective way in which to address the present foreclosure crisis is to amend the Bankruptcy Code and allow Bankruptcy Judges to modify residential mortgages in the same way the court can “cram down” all other secured debts. Maybe an amendment to the Bankruptcy Law will force lending institutions to exercise better credit judgment and recognize that the lender must assume the risks of its credit decisions. The present Bankruptcy Code obsolves lenders of the risks of their own greed and predatory lending practices.

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