Because the homeowner in san diego owes 400k on a house with a 200k market value. There is very little incentive to stay in the house regardless of loan term.
I agree, if you are already 3 months behind on your mortgage a $200 a month break is not going to let you get current.
TARP was a bad idea, and it will take a number of years to see how things really work out. It did nothing to restore lending from banks, and proved the gov't was there to rescue irresponsible "TBTF" firms: http://www.cepr.net/index.php/blogs...ampaign=Feed:+beat_the_press+(Beat+the+Press) http://mises.org/daily/4762 It's interesting that no one is even using the term "moral hazard" any more. That word left the lexicon sometime in 2008. Nonetheless, giving a break to "distressed" homeowners is a slap in the face to those who pay off their mortgages--even when they can barely afford to.
I have a hard time buying that arguement. Everyone is underwater on a new car loan, people keep their cars with upside ltv. On the flip side, if you have a home with a 400 mortgage and a 200k apparaisal suppose when the person sells, the Fed lets you write off the loss?
you can't write off the loss on your primary residence http://homebuying.about.com/od/taxes/qt/082807_HomeLoss.htm
most ET'ers are pathetic, wanna be rich, GOP shills - I had that figured out a long time ago....they have fallen for the promise the GOP loves to dangle in-front of the redneck losers, "you, sonny too can be rich, just get your GOP card and pay us money". They all vote republican while the rich fuck them in their ass repeatedly...
That is insane. Nobody will lend out that far without a gov't (ie taxpayer) backstop. What you are asking for is fundamentally the same as knocking $ off the owed-amount.
I'm far from the GOP mainstream, but I'll take them over class warfare loving, gov't dole-taking, sub-60 IQers like yourself. And with 41 posts and a 4-month registration here, how "long" ago did you figure this out? Most likely a reincarnation of an Obama-drone who got embarrassed and left.
Bad day at the market? I am not a demorcat and Obama apologist but you teabaggers and ET gop cocksuckers just amuse me. I had been active on the site long before you albeit with different aliases. (I guess you could not figure this one out...)