lenders reducing down payments to try to get fees

ragnar_d | Feb 14, 2013 08:06 PM ET And yet California suddenly has a budget surplus... And it has Silicon/internet Valley, the greatest innovation engine in the world. Also has Hollyweird, with all that creativity (hmmm, not really sure we should claim that place...). We have the wine country, both central and Napa. Not to mention all the other agribusiness. And best of all, I can surf year-round with only a 3/2 suit in the winter. It was in the 70s today and clear sunny skies. I wouldn`t live anywhere else, except maybe Hawaii, and I`ve been all over the world. Ok, sorry about the infomercial ;-)

Swag1323 | Feb 15, 2013 06:15 AM ET @ ragnar_d, You might want to go back and read the small print on that "budget surplus" Gov Brown has promised. Lots of amazing, practically impossible events will have to occur to achieve the revenues he`s anticipating to produce those numbers he`s been pushing. Not to say your area still doesn`t have lots to offer, just want to make clear that future looming raised taxes to cover the shortfalls is going to be one of them.

LoganMohtashami | Feb 15, 2013 12:59 PM ET Unfunded pension liability in California... if you do your research and follow the concept of math... you can see the future drama in California Logan Mohtashami

thereugoagain | Feb 19, 2013 10:15 AM ET No problem ...the Obama administration will subsidize and make it easy for bigmoney groups to buy up all the low priced homes ....rent then out until they are falling apart and then sell them at a substantialgain to homebuyers that can`t afford the mortgages much less the loans to fix them up ....

Earth_Scientist | Feb 19, 2013 10:32 AM ET Back in 2006, a lot of borrowers bought, borrowed, made one payment, and then defaulted. Many of them lived rent-free for years, and many of them are now debt-free, too: shredded/lost loans, etc. It will be interesting to see if this starts up again: too-low interest rates, lenders reducing down payments to try to get fees, empty homes, etc. The pieces are all falling back into place. Fortunately, prices are much lower than in 2007, although we`re not yet back to the pre-bubble levels of 2000.

bluarc1 | Feb 21, 2013 05:19 AM ET @Outside_Observer. No you are not a liberal. You are a selective liberal, only when it comes to your personal agenda. You said it, these people should not have been written loans. The Banks knew this as did the mortgage lenders and mortgage loan brokers. Big business wanted their money (down payments & savings) They took them for all they could now they deserve to be able to at least live in the homes for at least two years. Two wrongs do not a right make. These peoples credit is now also in shambles and will take the most of them up to ten years to repair. On the other hand maybe you and your attitude is what liberals are and these people should switch party affiliation. I am a conservative/connstitutionalist These people have been taken advantage of and so have the taxpayers. Where do y

bluarc1 | Feb 21, 2013 05:29 AM ET continued: @Outside_Observer. I am a conservative/connstitutionalist These people have been taken advantage of and so have the taxpayers. Where do you fall in all of this? I also believe in gun ownership ("2nd amendment right to bear arms") to prevent the takeover by a "Tyrannical Government" not only for the self and home protection. Shotguns won`t do for that. I just thought I would put that in. I am also a Vietnam Veteran. What about you? Have you served your country? I don`t mean in public office either they only serve themselves for the most part.






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