Comments on: Why Are Banks Unwilling To Work With Homeowners Facing Foreclosure? http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/ Teach Your Money To Think! Tue, 09 Mar 2010 19:18:00 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: christian http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-3143 christian Tue, 24 Nov 2009 05:54:03 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-3143 I always wondered why but I think it's just a matter of dollars and cents at the end of the day. I always wondered why but I think it’s just a matter of dollars and cents at the end of the day.

]]> By: -> Monday Roundup And Link Love! | Bible Money Matters http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2644 -> Monday Roundup And Link Love! | Bible Money Matters Mon, 27 Apr 2009 16:09:07 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2644 [...] Why Are Banks Unwilling To Work With Homeowners Facing Foreclosure? Share this post with others:  SU |   Reddit  |   Digg |  PFBuzz |  Del.icio.us  |   Tip'd |  Facebook [...] [...] Why Are Banks Unwilling To Work With Homeowners Facing Foreclosure? Share this post with others:  SU |   Reddit  |   Digg |  PFBuzz |  Del.icio.us  |   Tip’d |  Facebook [...]

]]> By: -> Monday Morning PF Blogosphere Roundup: Don’t Forget To Vote! | Bible Money Matters http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2633 -> Monday Morning PF Blogosphere Roundup: Don’t Forget To Vote! | Bible Money Matters Mon, 06 Apr 2009 16:52:31 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2633 [...] Why Are Banks Unwilling To Work With Homeowners Facing Foreclosure? Hank takes a look. [...] [...] Why Are Banks Unwilling To Work With Homeowners Facing Foreclosure? Hank takes a look. [...]

]]> By: Investing For Life http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2637 Investing For Life Tue, 31 Mar 2009 16:30:58 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2637 Avoid forclosure, do a quick sale. Start over renting something that fits within your budget. Do not repeat the mistake of buying a home you cannot afford. The Joneses are losing their shirt, so stop trying to keep up with them. <em>Investing For Life's last blog post..<a href='http://feedproxy.google.com/~r/JamesFowlkes/~3/nfs1WVdk9to/' rel="nofollow">Why I Hate Load Funds and You Should Too?</a></em> Avoid forclosure, do a quick sale. Start over renting something that fits within your budget. Do not repeat the mistake of buying a home you cannot afford. The Joneses are losing their shirt, so stop trying to keep up with them.

Investing For Life’s last blog post..Why I Hate Load Funds and You Should Too?

]]> By: Bill McCollam http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2636 Bill McCollam Wed, 18 Mar 2009 01:11:36 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2636 hm... if i'm in a poker game with 40% invested and a bust hand - I'm throwing them in and looking for a better spot. I think in these cases it just comes down to a realistic assessment of expectations. Easier said than down when its all coming down around you. <em>Bill McCollam's last blog post..<a href='http://www.mccollam.com/jakeblog/2009/03/101/' rel="nofollow">Geocaching: Fun, frugal and good for you</a></em> hm… if i’m in a poker game with 40% invested and a bust hand – I’m throwing them in and looking for a better spot. I think in these cases it just comes down to a realistic assessment of expectations. Easier said than down when its all coming down around you.

Bill McCollam’s last blog post..Geocaching: Fun, frugal and good for you

]]> By: the weakonomist http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2635 the weakonomist Mon, 16 Mar 2009 21:58:16 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2635 The banks aren't lending because even under the best re-fi conditions, many of the people still can't afford their homes. Congress gave them the money but they won't let them be stupid with it again. The funny thing is Congress doesn't even realize they did this! Granted there is an exception to any generalization, but I work at a bank and I've seen the re-fi apps come through. <em>the weakonomist's last blog post..<a href='http://feedproxy.google.com/~r/Weakonomicscom/~3/4mVtrUXZzMk/' rel="nofollow">What We Can Learn From Forbes’ Richest People</a></em> The banks aren’t lending because even under the best re-fi conditions, many of the people still can’t afford their homes.

Congress gave them the money but they won’t let them be stupid with it again. The funny thing is Congress doesn’t even realize they did this!

Granted there is an exception to any generalization, but I work at a bank and I’ve seen the re-fi apps come through.

the weakonomist’s last blog post..What We Can Learn From Forbes’ Richest People

]]> By: Curious Cat Investing Blog http://www.myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2634 Curious Cat Investing Blog Sun, 15 Mar 2009 18:57:28 +0000 http://myinvestingblog.com/why-are-banks-unwilling-to-work-with-homeowners-facing-foreclosure/#comment-2634 I don't actually agree. Banks have not shown "They know money (likely better than anyone) and they aren’t stupid." Many acted like stupid spoiled children. They got themselves in big trouble because they didn't understand money and economics and markets. The main reason I think banks are not making smart deals now to reach compromises with the mortgage holders is they don't know how to do so. They have gotten into financial arrangements that are unnecessarily complex (done out of greed and not understanding financial instruments). Instead of straight forward mortgages they have very complex derivatives and what can be negotiated is difficult for them to understand. The costs and benefits of renegotiating are not easy to see. My guess is that doing so will provide significant benefit to the lenders and the borrowers and the economy overall. But that is a guess. I trust my guess much more than the average banker and certainly more than the fools that didn't understand the ponzi like scheme of mortgages that could not be paid off by income and only by ponzi like new mortgages. <em>Curious Cat Investing Blog's last blog post..<a href='http://investing.curiouscatblog.net/2009/03/15/12-stocks-for-10-years-march-2009-update/' rel="nofollow">12 Stocks for 10 Years - March 2009 Update</a></em> I don’t actually agree. Banks have not shown “They know money (likely better than anyone) and they aren’t stupid.” Many acted like stupid spoiled children. They got themselves in big trouble because they didn’t understand money and economics and markets.

The main reason I think banks are not making smart deals now to reach compromises with the mortgage holders is they don’t know how to do so. They have gotten into financial arrangements that are unnecessarily complex (done out of greed and not understanding financial instruments). Instead of straight forward mortgages they have very complex derivatives and what can be negotiated is difficult for them to understand.

The costs and benefits of renegotiating are not easy to see. My guess is that doing so will provide significant benefit to the lenders and the borrowers and the economy overall. But that is a guess. I trust my guess much more than the average banker and certainly more than the fools that didn’t understand the ponzi like scheme of mortgages that could not be paid off by income and only by ponzi like new mortgages.

Curious Cat Investing Blog’s last blog post..12 Stocks for 10 Years – March 2009 Update

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