Foreclosures and Bankruptcy Law

[Community Development Banking List]

Original message from: theresa@homeowncenter.com

Has anyone performed calculations to determine how much the payoff would be
on all of the loans that are behind? If it is under $700 billion it would
make more sense to provide homeowners with a sizable amount to pay off the
homes or buy them down to a affordable level with 0 interest. This will spur
the economy freeing up funds to purchase hybrids, pay taxes, ect.

--
Sincerely,

theresaVKENNEDY
Home Ownership Center of Middle TN

o 615.859.7150
c 615.593.6607
f 615.859.7190
e theresa@homeowncenter.com

[Community Development Banking List]

Original message from: ajloubert@aol.com

$1,000,000,000,000.? (trillion) +/- a hundred billion.? Who gets dibs on the money?? Those?who maintained prudence in their decisions over the last several years would enjoy the reward but may resent?their taxes supporting folks that were over optimistic.?

Andrew Loubert
President
Arizona Housing Counseling Collaborative


-----Original Message-----
From: Theresa Kennedy <theresa@homeowncenter.com>
To: communitydevelopmentbanking-l@cornell.edu
Sent: Wed, 19 Nov 2008 2:31 pm
Subject: Foreclosures and Bankruptcy Law


Has anyone performed calculations to determine how much the payoff would be on all of the loans that are behind? If it is under $700 billion it would make more sense to provide homeowners with a sizable amount to pay off the homes or buy them down to a affordable level with 0 interest. This will spur the economy freeing up funds to purchase hybrids, pay taxes, ect.

--
Sincerely,

theresaVKENNEDY
Home Ownership Center of Middle TN

o 615.859.7150
c 615.593.6607
f ?615.859.7190
e theresa@homeowncenter.com


CDB list instructions http://www.runonthebank.net/cdblist.htm ('http://www.runonthebank.net/cdblist.htm')

[Community Development Banking List]

Original message from: e.olson@dakotaww.com

There were two systemic changes in the market when the savings and loans blew up. The reclassification of junk bonds and the denial of passive real estate losses.

The two changes that have blown up today's housing market are the uncontrolled securitization of mortgages and the changes in bankruptcy laws. Under the old laws a person could save their house. Reinstating the old law would help people keep their houses and shed them of usurious interest rates and highway robbery late charges.
________________________________
From: bounce-3314254-8116573@list.cornell.edu [bounce-3314254-8116573@list.cornell.edu] On Behalf Of Theresa Kennedy [theresa@homeowncenter.com]
Sent: Wednesday, November 19, 2008 3:31 PM
To: communitydevelopmentbanking-l@cornell.edu
Subject: Foreclosures and Bankruptcy Law

Has anyone performed calculations to determine how much the payoff would be on all of the loans that are behind? If it is under $700 billion it would make more sense to provide homeowners with a sizable amount to pay off the homes or buy them down to a affordable level with 0 interest. This will spur the economy freeing up funds to purchase hybrids, pay taxes, ect.

--
Sincerely,

theresaVKENNEDY
Home Ownership Center of Middle TN

o 615.859.7150
c 615.593.6607
f 615.859.7190
e theresa@homeowncenter.com<mailto:theresa@homeowncenter.com>


CDB list instructions http://www.runonthebank.net/cdblist.htm ('http://www.runonthebank.net/cdblist.htm')