4 Comments

1. 

   shadash on February 16, 2012 at 2:32 pm

   Mendez’s program has either a 2.6% or 8% redefault rate after modification…

   Hmmm… If you foreclose on a property there is a guarenteed 0% redefault rate. And when the house is repurchased by a willing an able buyer the true value of the property is established.

   All this nonsense that we have to save deadbeats is garbage. Propaganda put forth by the banks to save their own skin.

2. 

   Amy P on February 16, 2012 at 6:16 pm

   This is way too complicated. Anyway, who says that homes are going to drop another 24%?

   My preferred solution is to hand walk-aways $5k for leaving homes in good condition and then freeze them out of FHA (or other federal) loans for the next 5 years.

3. 

   Kingside on February 16, 2012 at 9:00 pm

   2.6% or 8% redefault rate over what time period? one month? one year? ten years? Just mumbo jumbo percentages thrown out that mean nothing, really.

4. 

   stormin on February 17, 2012 at 12:25 pm

   Trivia question. When was the last time you saw a Shadash comment that didn’t have the word ‘deadbeat’ in it?

   Kingside – don’t know that answer but one month is too short and 10 years is too long. You can ask them via their website.