“The majority of those foreclosed on and who sold short would have become clean potential buyers in 3 to 7 years ensuring a housing recovery was not only on deck but would be ‘durable’. Millions of legacy HELOCs and HELOANs preventing folks from rebuying real estate indefinitely would have been exterminated making millions more potential buyers within 2 to 5 years. Bottom line, history will not be kind to loan mods and workouts. It will show that modifications, anti-foreclosure laws, banks protecting their HELOC assets — in general, unabated can-kicking — was responsible for housing to remain in a depression for years longer than it would have.”
Foreclosures are the Solution, Not the Problem
- Post author:The Freedom Watch Staff
- Post published:July 8, 2013
- Post category:Network Archives
Tags: Bailout Fail, Bankocracy, CLibertyC, constitutional liberty coalition, economic Trends, Economics, for life and liberty, Investment/Trends, Middle Class Dismissed, News Commentary, Property/Assets/Rights, Resistance, sound money, The Freedom Watch, What Could Possibly Go Wrong
The Freedom Watch Staff
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