Mortgage modification program a bust

Via BusinessInsider, Calculatedrisk takes a look at the government’s plan to help distressed homeowners. They’re totally f**ked. What’s Plan B?


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2 responses to “Mortgage modification program a bust

  1. Retired IB'er

    Whatever Plan “B” is, I can assure you it involves your tax dollars…

    We (I should say they) are so committed to the path of bailouts that the country will keep bailing right up to the moment it can’t. You’ll know when that is by how the stock and debt markets react. Could be next week, could be next year, could be five years from now, but based upon our trajectory and our politicians’ inability to address the problem (rein in spending), it is going to happen.

  2. Modification Newbee

    I’ve opted to go through the CT state modification program. The lender refused to discuss modification until I defaulted…so here we are.

    I have no interest being a burden on other taxpayers – I want to renegotiate the terms of my loan.

    This is all my fault. I don’t expect anyone else to pay my debts.

    Banks, countries, cities and states will be bailed out (funnily enough by me and other taxpayers). We’ve all lived beyond our means. All of these will get more funds to survive. I won’t.

    Nobody cares about the guy in the street.
    I screwed up…most people on this blog would seem to think hey buddy that’s your fault, so pack your bags and go….

    we’ll see how it works out…i’ll let you know…