San Diego real estate blog

Actual clause in the government rescue package:

Sec. 109. Foreclosure Mitigation Efforts CONSENT TO REASONABLE LOAN MODIFICATION REQUESTS - Upon any request arising under existing investment contracts, the Secretary shall consent, where appropriate, and considering net present value to the tax-payer, to reasonable requests for loss mitigation measures including term extensions, rate reductions, principal write downs, increases in proportion of loans within a trust or other structure allowed to be modified, or removal of other limitation on modifications.

You live in a San Diego new housing development where all homes were sold out in 2004.*To view the full post, please visit the San Diego real estate blog

Some folks took risks on buying homes 2-3 years ago with the thought that home prices would continue to increase and they would make off with a good ROI (sometimes with no money down at all). Others took the risk of not buying and possibly seeing the prices of housing running up to a level that those individuals could be priced out of the market forever (like the 1970's steep increases).

Paulson/Bernanke are making it sound like they are alleviating risks took by investors -but this can only be done at the expense of others that took risks (and, should be rewarded accordingly when markets show favor to their strategy). Those that have saved money are being robbed through purposeful devaluation of the currency by those that believe that some folks risk taking is more important than others. This is a long post, *To read the full post, please visit my San Diego real estate blog.

A report yesterday in The New York Times reporting on a consulting firm's analysis, found that departing Fannie Mae head Daniel Mudd stands to collect $9.3 million in severance pay, retirement benefits and deferred compensation under the terms of his employment contract, provided his dismissal is deemed to be "without cause." San Diego CA Realtors