Underwater Mortgage Help 2009
September 18th, 2009
Underwater Mortgage Help 2009
Question: If 48% of homeowners will owe more on their home mortgage than their home is worth by 2011 how are we going?
to have an economic recovery?
Won’t that mean many more foreclosures ahead?
http://money.cnn.com/2009/08/12/real_estate/housing_mortgages_underwater.fortune/index.htm?postversion=2009081212
iamct01: Do you really think its the homeowners faults when property values plummet? I dont.
Answer: No, we won't.
Yes, it will.
Some people don't know the ins and outs of property values. They just have an opinion.
The present scenario is going to lead to market stabilization, with the result that a majority of former homeowners will no longer be able to afford a home, nor buy one anytime soon.
This means that a majority of the houses formerly owned be Americans and legal immigrants will now belong to foreign investors. Once they have that much control over home prices, you can kiss the "free market" goodbye.
Town Hall Meeting LA Anger 2009
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