Thursday Links
Brooklyn Heights. Photo by SanFranStagehand. Bush’s Subprime Deal May Exclude Many Borrowers [NY Times] Wary of Risk, Bankers Sold Shaky Mortgage Debt [NY Times] Replacing the Built-in Metal Hamper in My Bathroom [NY Times] City Launching Program to Help Distressed Property Owners [NY Post] The Brooklyn Bridge Is Going Green [NY Post] City Tech Renderings:…
Brooklyn Heights. Photo by SanFranStagehand.
Bush’s Subprime Deal May Exclude Many Borrowers [NY Times]
Wary of Risk, Bankers Sold Shaky Mortgage Debt [NY Times]
Replacing the Built-in Metal Hamper in My Bathroom [NY Times]
City Launching Program to Help Distressed Property Owners [NY Post]
The Brooklyn Bridge Is Going Green [NY Post]
City Tech Renderings: None of the Above [Brooklyn Eagle]
Francis Morrone on Piano’s plans [NY Sun]
City Plans $80M in ‘Green’ Spending [NY Sun]
Mixed-Use Developments on Rise [NY Sun]
Top Picks at IKEA [AT]
Ok let me show the finer points.
The What:
1. They are called amendments and they actually happen all the time in the law as long as there is mutual consideration.
How can you break them. MBS Pools has already book the income of the Mortgages they are trying to freeze! The MBS Pool will be downgraded and will be worth shit!
2. Perhaps, but what is the use of accelerating the mortgage when the homeowner cannot pay? This bailout is helping the lenders too you realize.
Is it??!! This toxic shit is all over the place. They are trying to prevent INSOLVENCY!!!! This shit will take down the system, Stupid!
3. (a & b) CC and auto loans are not in amounts as high as mortgages on homes and people generally will not have problems paying these. (c) Business lines of credit are not for your average consumer. Banks seem to do more research on this front than mortgages.
This will affect all lines of credit, ALL LINES!!!!!!
4. Lawyers have a ball with everything.
True
5. This will prolong the fall (not speed it up), but if you’re correct (which I don’t think you are) it will make the crash harder.
No the crash will be hard
The What
Someday this war is gonna end……
“This may be naive, but if rents are continuing to rise, and housing prices fall, isn’t there a floor in housing prices where it makes more sense to buy than rent?”
Yes, but we are nowhere near that point yet.
This may be naive, but if rents are continuing to rise, and housing prices fall, isn’t there a floor in housing prices where it makes more sense to buy than rent? It seems like that’s one of the reasons why the New York market isn’t as soft as other places? That’s the only reason why my husband and I bought here. Rent was nearly as much as our mortgage payments. If you use San Francisco as a comparison, a 1 bdrm apt is between 1200-2000K/mo, but with a $500K mortgage, your monthly payments are a lot higher than rent, so housing has to come down a lot to entice people to buy again. This difference is even more extreme in a lot of suburban areas.
Please, hold the snarky remarks on this, as I know some people will respond that way. I just haven’t seem people talking about this differential, and I’m wondering if this argument makes sense.
The What:
1. They are called amendments and they actually happen all the time in the law as long as there is mutual consideration.
2. Perhaps, but what is the use of accelerating the mortgage when the homeowner cannot pay? This bailout is helping the lenders too you realize.
3. (a & b) CC and auto loans are not in amounts as high as mortgages on homes and people generally will not have problems paying these. (c) Business lines of credit are not for your average consumer. Banks seem to do more research on this front than mortgages.
4. Lawyers have a ball with everything.
5. This will prolong the fall (not speed it up), but if you’re correct (which I don’t think you are) it will make the crash harder.
i agree. this is damn criminal
privatize the profits… socilize the losses….
what a stinking pile of crap
where are the investigations??
lets see some indictments for these crooks
Oh sheet, I find myself agreeing wit’ da what. Now I am skeered.
Lenders Agree to Freeze Rates on Some Loans
Say goodbye folks. This will not work!
1. How can you modify loan agreements? You will kill 200 years of contract law.
2. The Mortgagee (lender) will most likely call in the mortgage. There are Mortgage acceleration clauses in all mortgages. This means that the mortgagee can call if there are breaches like Default, No Insurance, Neglect of property and so on. Lenders will look for way to kill Mortgages.
3. What person in their right mind will loan you any money??!!! Why we should stop with Mortgages? Why not Credit Cards, Auto Loans and Business lines of credit.
4. The Lawyers will have a ball with this shit.
5. Lets bail out the assholes! This will bring the crash faster!
Look people this shit is OVER. They are trying to delay the Inevitable. RIP Real Estate Mutant Bubble 2000-2007
The What
Someday this war is gonna end…