In Canada, If you are refinancing your mortgage and you have enough equity accumulated, you can consolidate other debts into your mortgage. However, if you are purchasing a home, you cannot roll other debts into your mortgage unless you get a 5% cash-back mortgage to pay off other debts. Call me to discuss. James Shinners. Mortgage Managers. www.mortgagemanagers.ca 1-877-996-6677.

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My husband and i are scheduled to close on our first home on march 28th, so five days away. it is a 1,941 square foot home in fort worth, texas. we were approved for a 15-year fha loan at a 5.5% fixed interest rate. the builder had the house listed at $143,990 and said they were discounting it to $137,990 because they are trying to meet their quotas and their year end is march 31st. our realtor and his wife are both in the real estate business. he is a realtor and she is a broker, so they are getting a big commission off this deal with the builder. the realtor is going to pay off apartment lease ($710 per month and we have 3 months left), and pay two mortgage payments for us at $1,511 and some change. we both have fairly low credit scores (mine 534 and my husbands 575), but we got 100% financing. they are rolling our closing costs, appraisal fees, etc. into the loan. does this sound like a good deal? is there anything that sounds fishy?

You are getting a very good deal on the interest rate with the credit scores you have. All FHA and VA loans include Taxes and Insurance payment so you need not worry about that. With them paying off your apartment lease and the reduction in the asking price that is money in the bank for you or money you will or did not have to pay. The only thing that you are being charged for really is the two months of mortgage that could have been rolled into your loan. In order to find out you would have to look at and understand your HUD-1 closing document that was given to you by the escrow closing agent. If you do not understand it call your mortgage broker or go to the closing agent for an explanation. Nothing sounds fishy, apparently you were treated really good. I hope this has been of some use to you, good luck. "FIGHT ON"

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I am starting my own business and need start up cash. i bought my home last year for 209000, but it was way undervalued. several smaller homes in my neighoorhood have sold for about 230000. the principal remaining on my loan is 205000. if i take out a home equity loan for 40k and can get my house appraised for 250k while reducing my principal to 200k i can eliminate pmi and roll that money (and then some) into the payment for my home equity loan. will my mortgage company accept the home equity loans company's appraisal (it should be done by an outside company). also, the reason i layed out so much information is because i am also fishing for any advice i can get on this situation. thanks for any input at all!

Not to contradict one of the other answers here, but PMI is applied when the first mortgage is over 80% loan to value (not 70%). In simple terms, if your home is worth $100,000 and your first mortgage is $80,000 or less, you should have no PMI. To have the PMI removed, there are some options. First, you should call the mortgage company and ask them whether or not they require a full appraisal (some companies only require a BPI - Broker's Price Opinion, which should cost less than $100). If they do, ask them for a list of the approved appraisers in your area. You should then be able to go to your local lender for the HELOC (Home Equity Line Of Credit) and ask that lender to use one of the appraisers on the list. Another option would be to ask your lender to have the appraisal done (then they can remove your PMI), and then go to your lender with that appraisal. If the appraiser who does the job is on their list, it should be easily usable. Third option, but probably most expensive, would be to go to your lender (with your current loan information) and ask what benefits there are for you refinance. This could work to your benefit if you either have a higher interest rate (your rate will go down on the first mortgage with a lower loan to value ration) or if you have an ARM (Adjustable Rate Mortgage) that will be adjusting soon. Most importantly, don't forget that the HELOC or second mortgage you get will have a higher interest rate. In most cases, though, it's a small bit higher for total payments than your first mortgage plus your PMI. You make up for this with the interest deductions you can take on the second at the end of the year. Make sure you ask your accountant or CPA first to get all of the details on this. Best of luck to you - you seem to have your ducks in a row, and your plan should work well for you. Sean

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There’s one thing more shocking than the illegal alien smuggling advice that an acorn official in san diego gave undercover journalists james o’keefe and hannah giles. it’s the illegal alien home-loan racket that acorn has already been operating with the full knowledge of the u.s. government.on wednesday, o’keefe and giles published the fifth in a series of biggovernment.com sting videos. acorn official juan carlos vera coached the pimp-and-prostitute-posing pair on how best to pull off a border-busting smuggling operation. it would be “better from tijuana,” he counseled on videotape. vera then generously offered the investigative couple his mexican “contacts” to bring 12 illegal alien girls into the country for prostitution. gop california gov. arnold schwarzenegger now wants an investigation. but neither the terminator nor any other california public official raised a peep when the very same san diego acorn office publicly announced a partnership with citibank to secure home loans for illegal aliens. in 2005, citibank and acorn housing corporation — which received tens of millions of tax dollars under the bush administration alone — began recruiting mexican illegal aliens for a lucrative program offering loans with below-market interest rates, down-payment assistance and no mortgage insurance requirements. instead of the social security numbers required of law-abiding citizens, the program allows illegal alien applicants to supply loosely monitored tax identification numbers issued by the irs. the san diego union-tribune reported that “undocumented residents” make up a vast market representing a potential sum of “$44 billion in mortgages.” citibank enlarged its portfolio of subprime and other risky loans. acorn enlarged its membership rolls. the program now operates in miami; new york city; jersey city, n.j.; baltimore; washington, d.c.; chicago; bridgeport, conn.; and at all of acorn housing’s 12 california offices. san diego acorn officials advised illegal alien recruits that their bank partners would take applicants who had little or no credit, or even “nontraditional records of credit, such as utility payments and documentation of private loan payments.” the risk the banks bear is the price they pay to keep acorn protesters and hispanic lobbyists from the national council of la raza screaming about “predatory lending” off their backs. these professional grievance-mongers have turned the 1977 community reinvestment act — which forced lenders to sacrifice underwriting standards for “diversity” — into lucrative “business” opportunities. or rather, politically correct blackmail. more much more to read http://www.noozhawk.com/local_news/ article/092009_michelle_malkin_acor ns_illegal_alien_home-loan_racket/

Of course LaRaza should be investigated. They are also corrupt! LaRaza helped write the pork spending bill. They are a racist group.

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The us senate is trying to steam-roll the american public by disguising the bush/paulson $700billion wall street/nyc payout/bail-out/hand-out by tacking on non-related items - which the inept henry reed led senate should pass independently and separately of the proposed predatory lenders' hand-out of tax-payer money. the heroes of the middle-class and american worker are those in the us house of representatives who stood against bludgeoning their constituents and all of working-class america yesterday by voting against the $700billion bush/paulson fraud. such house representative's as (tn) thompson, (tx) hensarling, (nj) garrett and (or) difazio and (tx) doggett (just naming a few) put american families first, not predatory lenders' lobbyists in washington by voting against the tproposed tax-payer bailout of wall street/nyc millionaires and billionaires. (yes, ohio and california as well as georgia are to be recocgnized as well). these representatives realize that the us government already has the tools needed to ensure that the american financial system does not freeze up as threatened by bush/paulson and their proposed $700billion swan-song. the fdic, small business administration and federal reserve - can ensure money is available to us business and institutions. such is the degree of corruption in the us senate that it is staggering and anyone backing the paulson fraud is not admitting the severe damage such unprecedented addition to the us deficit will do to american families... all because henry paulson wants to reward predatory lenders and their greed by giving them tax-payer money, supposedly "buying up" caustic credit card debt, caustic mortgage debt - even caustic auto loan debt without addressing the problem which is the root cause of all this - predatory lending. sure, wall street was encouraged by both senate leaders and pelosi along with barney frank to signal that the fraud should have passed. and yes, the corrupt on wall street tried to stagger the market yesterday, but they failed. wall street crooks only undercut themselves the now high-lighted 777 points or in essence less than 7%, which is not such a huge drop in a market that has seen volatility as the gluttonous greed of the predatory lenders has been showing signs of its own finality. sure the predatory lenders got themselves in this mess and everyone is hurting from their abuse of the system, but wall street, not the us taxpayer is better positioned to directly deal with the repercussions caused by their greed and bad decisions. wall street, not the us taxpayer, should be forced to deal with their caustic debt and almost worthless "paper" - by incurring a fee on every single transaction of the stock exchange, both nynex and nasdaq. such a fee will no doubt build into the resource for which wall street can bail out themselves, not the us taxpayer. the american working class does not need to short-change its children at the dinner table, taking away a meal to make ends meet just to shore-up the accounts of millionaires and billionaires of wall street/nyc and its fat-cat bankers, brokers and lobbyists. that ugly quote about lipstick on a pig comes to mind as the us senate has failed america. congressional leaders have embraced predatory lenders and their greed with this $700billion bailout/handout at the expense of the middle class/average american tax-payer. what washington has not told you is that printing an extra $700billion is going to greatly increase inflation, further devaluing home property values, spiking fuel prices and increasing cost of food and every other daily expenditure of the american worker. in no way does the "revamped" bailout package address the root cause of the current "credit" issues suffered upon the american worker by wall street/fat-cat bankers' greed, nor does the $700billion bailout/handout to wall street/nyc greed offer sufficient or immediate help in stabilizing the housing market. americans can look to further devaluations of their homes, savings and any earnings for at least the next two years because of the washington stiff-arming this $700billion bailout/handout to the financial industry at tax-payer expense. washington is not telling you the truth about the negative repercussions of such extravagant handouts to the rich at the expense of the us common man, ma, pa, bro and sis on main street. if your congressional leaders vote for adopting the $700billion wall street bailout, either they have not been given the full picture, or they are in the pockets of the financial industry lobbyists taking what middle class americans have earned away from them. the bailout continues to be a fraud perpetrated on the us taxpayer. wall street executives will continue to take their undeserved exorbitant salary for creating such a debacle. "parachute" packages are not the only ceo/executive expense that the tax payer is expected to pay. the /us economy has proven its resiliency aq

Obama is on right now saying that this bail out most likely won't solve the problem and that there will be more problems, but we need to pass it. I can guarantee that anyone that votes for this will not get my vote. Not one person!

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As cornucopian benefits flow from washington, uncle sam turns out to suffer from bipolar bailout disorder. like a taxpayer-funded push me-pull you, he goes both ways while consuming enormous resources on the road to nowhere. today’s gargantuan mess started largely because washington used fannie mae and freddie mac to promote affordable housing. “the more pressure there is on these companies, the less we will see in terms of affordable housing,” rep. barney frank (d., mass.) said in 2003. he described fannie and freddie as “fundamentally sound” and added: “i want to roll the dice a little bit more in this situation towards subsidized housing.” well, it worked. america is awash in affordable housing. home prices in 20 major cities plunged 16.6 percent last quarter. that’s bad news if you’re selling, but a bonanza for those seeking affordable housing. so, rather than declare “mission accomplished,” uncle sam has cannon-balled into the mortgage markets to jack up housing prices. which is it? last september 24, g.w. bush claimed the $700 billion bailout would relieve distressed banks of “troubled assets that are clogging the financial system.” but just seconds later, bush continued: “...the value of many of these assets will likely be higher than their current price, because the vast majority of americans will ultimately pay off their mortgages.” in that case, are these assets really troubled, or just hung over? if the latter, why not calm down, let them sleep it off, and then arise after a decent interval? the troubled assets relief program then endeavored to rescue teetering banks. but to do so, treasury dragooned prosperous banks into accepting bailout money so their needy competitors would not be stigmatized. this is like a supermarket whose affluent shoppers must accept and spend food stamps so low-income customers with food stamps don’t appear poor at the checkout stand. “i think it’s absurd,” says the director of one small mid-atlantic financial house. “we are a profitable bank. we have zero non-performing loans. we have more capital than we are required to have. we arguably are overcapitalized from an economic and a business point of view. our only constraint on lending is the demand of credit-worthy borrowers. our lenders are on the street every day, as they have been throughout this financial crisis, looking to make new loans. despite that, we are being offered this relatively low-cost capital in the form of this preferred stock to be bought by the federal government.” this bank officer estimates that the fed is ready to hand his hale and hearty institution between $4 million and $5 million. this banker notes “the ironic escalation of the interest rate.” the terms of the loan, he marvels, are “five years at 5 percent, then it goes to 9 percent.” in other words, washington is giving banks adjustable-rate loans. this perfectly parallels the adjustable-rate mortgages that steered us into this ravine in the first place. http://article.nationalreview.com/? q=yzbjmmm3mmjlzguzowy1ywjiotc4ngqzn jkzmjy0nja= the whole article is good. it points out that despite the panic of passing $700 billion in bailouts immediately without review, bush is leaving $350 to have obama allocate them. the federal reserve is out of reserves, and the article says 'this goes way beyond 'show me the money', now it is 'throw me the money'. are we ready yet to demand fiscal accountability and transparency, at minimum of our government and the federal reserve? would you back hr 2755 to abolish the fed that injected two trillion in credit recently, per bloomberg, and refuses to say who got it? tjtb - i hadn't seen that. makes me mad, but who didn't see this coming at least for the last year, at least on some scale? i mean, say only the austrian school devotees predicted the extent, everyone knew subprime mortgage structures were bad. where do they get off speculating in markets to begin with?

Yes. What's most frustrating is the daily - if not hourly - discovery of yet another article or video showing a set of people in one party trying desperately to open the eyes of people of the other party on the issue. Dem's demanding restraint as repubs fight it. Repubs demanding oversight of Fannie and Freddie as dems fight it. What could be worse? That so many people remain unaware that Government - NOT an 'opposing party' - is the problem. We are the solution. ...

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Source: http://www.redcounty.com/acorns-dub ious-home-loan-racket-most-shocking acorn's dubious home loan racket is most shocking by michelle malkin there's one thing more shocking than the illegal alien smuggling advice that an acorn official in san diego gave undercover journalists james o'keefe and hannah giles. it's the illegal alien home loan racket that acorn has already been operating with the full knowledge of the u.s. government. on wednesday, o'keefe and giles published the fifth in a series of biggovernment.com sting videos. acorn official juan carlos vera coached the pimp-and-prostitute-posing pair on how best to pull off a border-busting smuggling operation. it would be "better from tijuana," he counseled on videotape. vera then generously offered the investigative couple his mexican "contacts" to bring 12 illegal alien girls into the country for prostitution. gop california gov. arnold schwarzenegger now wants an investigation. but neither the terminator nor any other california public official raised a peep when the very same san diego acorn office publicly announced a partnership with citibank to secure home loans for illegal aliens. in 2005, citibank and acorn housing corporation -- which received tens of millions of tax dollars under the bush administration alone -- began recruiting mexican illegal aliens for a lucrative program offering loans with below-market interest rates, down-payment assistance and no mortgage insurance requirements. instead of the social security numbers required of law-abiding citizens, the program allows illegal alien applicants to supply loosely monitored tax identification numbers issued by the irs. the san diego union-tribune reported that "undocumented residents" comprise a vast market representing a potential sum of "$44 billion in mortgages." citibank enlarged its portfolio of subprime and other risky loans. acorn enlarged its membership rolls. the program now operates in miami; new york city; jersey city, n.j.; baltimore; washington, d.c.; chicago; bridgeport, conn.; and at all of acorn housing's 12 california offices. san diego acorn officials advised illegal alien recruits that their bank partners would take applicants who had little or no credit, or even "nontraditional records of credit, such as utility payments and documentation of private loan payments." the risk the banks bear is the price they pay to keep acorn protesters and hispanic lobbyists from the national council of la raza screaming about "predatory lending" off their backs. these professional grievance-mongers have turned the 1977 community reinvestment act, which forced lenders to sacrifice underwriting standards for "diversity", into lucrative "business" opportunities. or rather, politically correct blackmail. as the consumer rights league noted in a 2008 report on the group's successful shakedowns of financial institutions, "an agreement with citibank, a significant acorn donor and partner, showed that some activists become less active when deals are in place." in the wake of the sting videos, acorn officials are making a great show of clamoring for "reform." acorn chief executive bertha lewis blamed the debacles across the country on the "indefensible action of a handful of our employees." but the corruption is systemic. acorn has long thrown rank-and-file operatives under the bus to cover for its management's indefensible conduct. and acorn's highly touted advisory watchdogs include inherently conflicted foxes guarding the henhouse: acorn advisory council member henry cisneros resigned from his post as clinton hud secretary after lying to fbi agents about payments to a former mistress. acorn advisory council member andy stern is president of the seiu, the big labor organization plagued by embezzlement scandals and inextricably linked to acorn's disgraced founder wade rathke. and acorn advisory council member eric eve of citigroup is a champion of the acorn/citibank illegal alien loan program that openly undermines immigration laws and integrity in banking. the truth is more sordid than any fictional scenarios caught on tape: acorn is a corrupt enterprise.

They are aiding and abetting illegal aliens just as la raza, splc, these banks and obama are. And all should have our laws enforced on them for doing so. I find anyone who helps lawbreakers remain in this country repulsive and trying to ruin this country. Acorn and splc have both been linked to some unsavory doings. Both are corrupt and only after the money. You can add la raza, the hispanic KKK to the list also. I consider each of these hate groups against The United States of America!!!!

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The federal reserve is just another tool of the fabian society, which is behind the recent economic collapse. rothschilds, rockefellers, and other of the richest families in the world created it as a cartel of formerly competing predatory world bankers to steal the product of labor from the people of the usa. they tried to get kennedy to work with them to do then what they are doing now, he saw what they were and refused. carter didn't, and implemented the community reinvestment act and gave away much of the us strategic holdings in the world and damaged our economy and set fuel prices to rising which they wanted to push up to help with the plan. clinton came along and reinvigorated the community reinvestment act and loaded up fanny mae and freddy mac with new mandates and deep inside democrat operatives like frank reins, jamie gorelick who was also involved in the clinton gorelick wall that helped the chinese steal military and other tech from us easily and got us nailed on 911 because the agencies had been deliberately blinded. 911 was probably a side effect, but who knows. they forced banks to issue bad loans, pushed fuel prices up and their scum bags in business all involved in global warming / cap n trade / climate exchange scams pushed speculation to drive up fuel prices to kill the economy to set off their housing loan driven banking bomb that tanked the economy. tanking the economy created a weakness in weak borrowers and so many defaulted. this called into question the collateral the government had banks using on mortgage packages that backed their lending. banks couldn't lend once those packages were called into question, and that brought the whole banking system down and so many businesses depending on it came down with it. healthy businesses most of them that had just ended up relying on loans to operate. that's how business schools told people to do it. when the banks went the operations couldn't continue even though the businesses were profitable and healthy. they just couldn't make pay roll or operate because they never kept money for that in reserve. assholes like krugman and others in colleges are the ones teaching destructive economics to students and putting out "expert reports" that are complete hog wash. look at my first link, that's how the scum bags operate. they put their scum bags in colleges and other places teaching people to do what they will be able to use to destroy them and steal the product of their work. keynesian economics was designed by elites, a fabian society lse scum bag keynesian was, to systematically strip the commoners of wealth and put it in the pockets of the elite. the fabian society which fabian bankers are the biggest players in the federal reserve (george soros himself is a rothschild flunky like maurice strong is a rockefeller flunky). this all fits into their world ambitions which are to rule the entire world, basically own it, and own all the people as their live stock. trust me, you don't understand how they think, unless you grew up super elite and had the whole world at your feet, never having to work for anything and being told and believing that you are a supreme being and the commoners are just animals for you to control. http://www.bigeye.com/griffin.htm http://en.wikipedia.org/wiki/fabian _society http://en.wikipedia.org/wiki/cecil_ rhodes http://www.equalparenting-bc.ca/new s/fabian-society.htm http://www.canadafreepress.com/inde x.php/article/13959 http://www.canadafreepress.com/inde x.php/article/13999 http://www.freerepublic.com/focus/f -news/2680279/posts

Well laid out. Anything the government can do to encourage Dependence on government increases their power and makes it easier for the Fabian Society to control us and take over the world. The USA is a big deal in this quest, the lynch pin that could make it or break it. Soros who was convicted of currency manipulation in France and Broke the Bank of England to force them into the EU, came here to bring the USA down. He's already done it to a number of countries and basically forced the European Union together. Not on his own though, his a henchman for the big players who don't get out into it so they stay clean and basically out of public suspicion.

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Article from investor's business daily http://www.investors.com april 2,2008 award-winning shakedown artist is still peddling subprime politics by michelle malkin

Investors Business Daily is the rag that called the US Department of Justice, "the Department of Jihad". In other words, they really are not a reliable source of facts and their opinions are very slanted. If you look at the first part of the article you have copied above, you will see this sentence: "the bank-bashers who held their demonstration in New York City against Bear Stearns and JPMorgan are totally unhinged". After 2 years of recession caused by Wall Street greed, most Americans now would agree with the "bank bashers".

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Signed executive orders to close the u.s. military prison at guantanamo bay, cuba, within a year, ban torture and end the cia’s secret overseas prisons and define treatment of detainees. reversed restrictions on stem cell research. signed the lilly ledbetter fair pay act. reducing discrimination based on gender, age, religion, or race. signed an executive order reversing the ban that prohibits funding to international family planning groups that provide abortions. gag rule revoked (mexico city policy). creates the white house council on women and girls "to provide a coordinated federal response to the challenges confronted by women and girls and to ensure that all cabinet and cabinet-level agencies consider how their policies and programs impact women and families." signed a presidental memorandum extending federal benefits to same-sex partners of federal workers and announced support for the domestic partners benefits and obligations act of 2009. reverses u.s. position on lgbt issues at the un: at the "durban review conference," u.s. supports language condemning “all forms of discrimination and all other human rights violations based on sexual orientation.” signed executive order requiring federal contractors to offer jobs to current workers when contracts change. reversed a bush order requiring federal contractors to post notice that workers can limit financial support of unions serving as their exclusive bargaining representatives. signed executive order preventing federal contractors from being reimbursed for expenses meant to influence workers deciding whether to form a union and engage in collective bargaining. created a foreclosure prevention fund for homeowners. expanded eligibility for the refinancing portion of the making home affordable plan to help americans struggling with distressed mortgages refinance at lower interest rates, even if they owe up to 25 percent more than their homes are now worth. established a credit card "bill of rights". expanded loan programs for small businesses. extended and index the 2007 alternative minimum tax patch. expanded eligibility for state children's health insurance fund (schip). expanded funding to train primary care providers and public health practitioners. created a new white house task force on the problems of middle-class americans, and installed vice president joe biden as its chairman. appoints vice president joe biden to oversee stimulus plan payouts. granted a reprieve to liberian immigrants facing imminent expulsion. directed military leaders to end war in iraq. allowing caskets to be photographed when the return from iraq with family approval. released nine previously secret internal justice department memos and opinions defining the legal limits of government power in combating terrorism. on arab tv network, obama urges dialogue. gave a speech in cairo engaging the muslim and arab world. bars independent contractors from conducting interrogations of terror suspects. granted americans unrestricted rights to visit family and send money to cuba. ordered the release of nearly a quarter of a million pages of records from the reagan white house that were kept from the public during a lengthy review by president george w. bush. restored funding for the byrne justice assistance grant (byrne/jag) program. released presidential records. required new hires to sign a form affirming their hiring was not due to political affiliation or contributions. pushed for enactment of matthew shepard act, which expands hate crime law to include sexual orientation and other factors. invites gay families to the easter egg roll as part of the obama administration's outreach to diverse communities. created a white house office on urban policy. increased funding for the nea. appointed an assistant to the president for science and technology policy. funded a major expansion of americorps. banned lobbyist gifts to executive employees. investment in all types of alternative energy. enacted tax credit for consumers for plug-in hybrid cars. support for high-speed rail. provided grants to encourage energy-efficient building codes. extended unemployment insurance benefits and temporarily suspend taxes on these benefits. created the white house council on automotive communities and workers to help auto industry workers transition to new manufacturing opportunities, including jobs in alternative energy. stopped raids on medical marijuana dispensers. nominated sonia sotomayor to the supreme court of the united states. if confirmed, sotomayor would be the first hispanic to ever serve on the supreme court. appointed more than 60 openly lgbt persons to positions in the executive branch. issues presidential proclamation for pride, proclaiming june 2009 as lesbian, gay, bisexual, and transgender pride month. signed a mercury reduction pact with 14

Don't you listen to the neo-cons....you're wrong. Don't confused their blind hatred with FACTS! There's no place for that here. As far as all the things he's done, well he....he.....LOOK!!! A fake Birth Certificate!! (what was the question?)

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The unexpectedly deep plunge in home sales this summer is likely to force the obama administration to choose between future homeowners and current ones, a predicament officials had been eager to avoid. over the last 18 months, the administration has rolled out just about every program it could think of to prop up the ailing housing market, using tax credits, mortgage modification programs, low interest rates, government-backed loans and other assistance intended to keep values up and delinquent borrowers out of foreclosure. the goal was to stabilize the market until a resurgent economy created new households that demanded places to live. as the economy again sputters and potential buyers flee — july housing sales sank 26 percent from july 2009 — there is a growing sense of exhaustion with government intervention. some economists and analysts are now urging a dose of shock therapy that would greatly shift the benefits to future homeowners: let the housing market crash. when prices are lower, these experts argue, buyers will pour in, creating the elusive stability the government has spent billions upon billions trying to achieve. “housing needs to go back to reasonable levels,” said anthony b. sanders, a professor of real estate finance at george mason university. “if we keep trying to stimulate the market, that’s the definition of insanity.” the further the market descends, however, the more miserable one group — important both politically and economically — will be: the tens of millions of homeowners who have already seen their home values drop an average of 30 percent. ... source: http://www.nytimes.com/2010/09/06/b usiness/economy/06housing.html?src= busln your thoughts?

If this is guaranteed to happen when prices drop, current homeowners need only hold out for the rebound before thinking about selling. It's definitely worth looking into, but you'd need the PR campaign of a lifetime to get people to support it.