I also don’t get the tendancy of a lot of the posters here to suggestive gutshot solutions to past problems which basically amount to an elimination of freedoms. Socializing and overregulating real estate will not lead to more productivity and improved real estate conditions.

Simple, effective, and cost-free; probably the best idea out there.

Fri Oct 2, 2009 7:13pm EDT

NEW YORK (Reuters) – The U.S. Treasury will soon finalize a plan to expand its incentives for mortgage companies to include “short sales” as a way to stem a rising tide of foreclosures, according to a Treasury spokeswoman.

“Short sales,” or sales of homes for less than the balance on existing mortgages, are seen as a key way to supplement other efforts such as loan modifications to steady housing. Unlike most modifications, “short sales” eliminate the problem of negative equity that has become a big reason for defaults as home prices have plunged.

http://www.reuters.com/article/gc03/idUSTRE5916X220091002

We need to break up these big banks. Get back to regional and state banks. We can still have standards that allow modern technology to interconnect.

A greater number of state and regional banks will eliminate the need for these brokerage “firms”.

Last point. Outlaw securitization. Period. You might as well put every neighborhood in America on a Las Vegas craps table. That’s what happened.

Require any bank that makes a loan to hold onto that loan for at least 5 years. That will keep the mortgage business in the mortgage business, instead of the gambling business.

Require loan recipients to hold on to the mortgage for at least 5 years, with certain exceptions. That will get rid of the flippers, etc.

America, we’re going to have to (re)learn how to make a living the old fashion way-with PRODUCTIVE behavior.

Jim, everybody, have a great weekend.

Period.

They suck money out of the system the same way health insurance companies do.

I hope they die off along with the H1-N1 virus.