Comments on: Relief for home short sales http://www.joetaxpayer.com/relief-for-home-short-sales/ Financial Commentary For The Average Joe Thu, 09 Feb 2012 00:23:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: eric http://www.joetaxpayer.com/relief-for-home-short-sales/comment-page-1/#comment-84 eric Mon, 28 Jan 2008 16:56:29 +0000 http://www.blog.joetaxpayer.com/archives/95#comment-84 This really is a good thing. It will help encourage borrowers that are underwater on their homes to hand the keys in to the bank. This, in turn, will help to flush the malinvestment out of the system. Sure, there will be loads of losses for banks and investors, but what's more important is helping families and individuals. Congress has (possibly by mistake) correctly set the priorities with this policy. I believe 60 Minutes had a piece on last night about walking away from a home. Some day, it will be common to brag about how low one's rent is, instead of how low one's mortgage rate is. This really is a good thing. It will help encourage borrowers that are underwater on their homes to hand the keys in to the bank. This, in turn, will help to flush the malinvestment out of the system. Sure, there will be loads of losses for banks and investors, but what’s more important is helping families and individuals. Congress has (possibly by mistake) correctly set the priorities with this policy.

I believe 60 Minutes had a piece on last night about walking away from a home. Some day, it will be common to brag about how low one’s rent is, instead of how low one’s mortgage rate is.

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