If some mortgages have been erased, why hasn't a deluge followed? Is there a massive re-write to the law in the works (how could bankers and lobbyists allow such a threat to their existence)? What would be the effect of so many homes being owned free and clear-- would the economy pick up as families, released from mortgage payments, spend cash? Would that lead to massive inflation? Maybe I'm not even asking the right questions. I need a crystal ball here, as I'm worrying about three little children and the kind of world their generation is inheriting.
I respectfully ask your collective wisdom. Thank you.
Please check out this link:
http://seekingalpha.com/article/221344-homeowners-rebellion-could-62-million-homes-be-foreclosure-proof
The last conversation I could find on this subject at this site is here:
http://patrick.net/?p=17056
If some mortgages have been erased, why hasn't a deluge followed? Is there a massive re-write to the law in the works (how could bankers and lobbyists allow such a threat to their existence)? What would be the effect of so many homes being owned free and clear-- would the economy pick up as families, released from mortgage payments, spend cash? Would that lead to massive inflation? Maybe I'm not even asking the right questions. I need a crystal ball here, as I'm worrying about three little children and the kind of world their generation is inheriting.
I respectfully ask your collective wisdom. Thank you.
#housing