Comments on: Is the Government Foreclosure Prevention Plan Failing?

By: Weekly summary of real estate news, Memphis comments, and other interesting stuff – December 13th - Memphis Real Estate Buzz

Sun, 13 Dec 2009 12:07:59 +0000

[...] Shared Is the Government Foreclosure Prevention Plan Failing?. [...]

By: Joe Spake

Joe Spake — Tue, 08 Dec 2009 20:00:30 +0000

Is the Government Foreclosure Prevention Plan Failing? http://bit.ly/6rqMXS

By: Joe Spake

Joe Spake — Tue, 08 Dec 2009 19:43:59 +0000

Is the Government Foreclosure Prevention Plan Failing? http://ow.ly/JTbE

By: Memphis Real Estate

Memphis Real Estate — Tue, 08 Dec 2009 19:43:58 +0000

Is the Government Foreclosure Prevention Plan Failing? http://ow.ly/JTbh

By: Austin Real Estate

Austin Real Estate — Tue, 08 Dec 2009 09:50:51 +0000

http://bit.ly/19JCAo Is the Government Foreclosure Prevention Plan Failing? http://bit.ly/7xWVsJ http://bit.ly/19JCAo

By: Tammy

Tammy — Mon, 07 Dec 2009 21:10:28 +0000

I think if you look at this from the standpoint that 100% of these loans were in default before modification (or they would have had no reason to be modified) a 73% success rate is nothing to sneeze at! And that from an agent who is not a big Obama supporter…so it hurts to say it, but this might actually be working on the plus side.

By: SocialBizz

SocialBizz — Mon, 07 Dec 2009 20:58:52 +0000

RT NicoleVJAllen: RT @Real_TechGuy: Is the Government Foreclosure Prevention Plan Failing? http://ow.ly/Juo8 .. http://bit.ly/5V1XHe

By: Nicole VJ Allen

Nicole VJ Allen — Mon, 07 Dec 2009 20:20:50 +0000

RT @Real_TechGuy: Is the Government Foreclosure Prevention Plan Failing? http://ow.ly/Juo8 http://bit.ly/8qqfGv

By: Matt Stigliano

Matt Stigliano — Mon, 07 Dec 2009 19:02:06 +0000

Lani – Wow, it’s great to hear that 73% are doing well, but that leaves a whopping 27% that aren’t. I’m surprised the numbers are that high and I have to wonder if Justin McHood isn’t right on the money with the idea of some people just “walking away.” People are tired of trying to fight an uphill battle with their homes I’m sure. The other problem that I see (and have talked about before on blogs) is that I think the stigma of foreclosure isn’t what it used to be. Now granted, no one enjoys a foreclosure, but I think people are finding them easier to swallow than they used to. Years ago “foreclosure” was a harsh “F” word. Although it still isn’t a joyous occasion, I don’t think it’s so much of a bad word.

I’d also suggest that there might be an additional reason that people are defaulting: they took a loan modification that didn’t meet their needs, because what other choice did they have. A loan modification only works if you can afford the new terms. When face with foreclosure or a loan modification, which would you take? You’d take the modification, even if you knew you couldn’t afford that – at least it would keep the wolves at bay for a little while as you try and figure out how to pay the mortgage that is now lower, but still out of your range.

By: Real-TechGuy.com

Real-TechGuy.com — Mon, 07 Dec 2009 18:36:29 +0000

Is the Government Foreclosure Prevention Plan Failing? http://ow.ly/Juo8 <<

By: topsy_top20k_en

topsy_top20k_en — Mon, 07 Dec 2009 18:36:29 +0000

Is the Government Foreclosure Prevention Plan Failing? http://ow.ly/JpPv (27% of those who recieved are already late)

By: realdiggity

realdiggity — Mon, 07 Dec 2009 13:48:41 +0000

Is the Government Foreclosure Prevention Plan Failing?: comments http://bit.ly/6SkQdI