Comments on: A Bail Out is Still a Bail Out by Any Other Name http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: retractable awnings http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-14297 retractable awnings Fri, 30 Jan 2009 02:35:49 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-14297 It's sad to see that last year there are many bailouts that occurred due to the financial crisis.. I just hope that it will be less this year.. It's sad to see that last year there are many bailouts that occurred due to the financial crisis.. I just hope that it will be less this year..

]]> By: Carnival of Real Estate http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-11080 Carnival of Real Estate Tue, 03 Jun 2008 00:00:50 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-11080 [...] ‘A Bail Out is Still a Bail Out by Any Other Name’ by Morgan Brown of BlownMortgage.com and [...] [...] ‘A Bail Out is Still a Bail Out by Any Other Name’ by Morgan Brown of BlownMortgage.com and [...]

]]> By: LJ http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-8793 LJ Wed, 09 Jan 2008 20:50:17 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-8793 I don't care what they call it, but please continue with the bail out. It has to happen. Tax breaks? Fine. Whatever gets the job done. I don’t care what they call it, but please continue with the bail out. It has to happen. Tax breaks? Fine. Whatever gets the job done.

]]> By: Morgan Brown http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-5338 Morgan Brown Sat, 13 Oct 2007 04:28:30 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-5338 Let_the_market_fail - I agree with you on the importance of avoiding a bail out which simply encourages this reckless behavior to return to the markets while keeping assets overly inflated, thereby denying access to the market for responsible potential home buyers. The only problem I have with the debt relief 1099 and resultant tax is that the home is reposed (which is traumatic) and their credit is ruined. Adding tax liability to that doesn't really seem to be a benefit to the responsible folks. I mean sure, that 1099 tax will probably generate a ton of revenue for the government this year; but in general I believe that adding that liability to a crushed speculator (who could be the person sitting next to you at church, your neighbor, your cousin, etc.) doesn't allow those people to begin recovering their own life. They made bad decisions they pay with their house and their credit for at least 7 years - let's give 'em the tax break, maybe? Let_the_market_fail – I agree with you on the importance of avoiding a bail out which simply encourages this reckless behavior to return to the markets while keeping assets overly inflated, thereby denying access to the market for responsible potential home buyers.

The only problem I have with the debt relief 1099 and resultant tax is that the home is reposed (which is traumatic) and their credit is ruined. Adding tax liability to that doesn’t really seem to be a benefit to the responsible folks.

I mean sure, that 1099 tax will probably generate a ton of revenue for the government this year; but in general I believe that adding that liability to a crushed speculator (who could be the person sitting next to you at church, your neighbor, your cousin, etc.) doesn’t allow those people to begin recovering their own life.

They made bad decisions they pay with their house and their credit for at least 7 years – let’s give ‘em the tax break, maybe?

]]> By: let_the_market_fail http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-5317 let_the_market_fail Fri, 12 Oct 2007 18:55:19 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-5317 You're too compasionate. The financially irresponsible should not enter a game they don't know how and are not qualified to play. Buyer Beware! The double-whammy is just a naturally occuring free-market mechanism to ensure that these losers never enter the same market again. Changing federal taxation laws to protect these losers invariably will take additional income away from the responsible ones. We've seen it here in Miami to a ridiculous degree. I will have a big smile on my face when the "ivory tower" of real estate comes crashing down on the very ones to whom this problem may be attributed. Bye bye developers, brokers, construction contractors, realtors, appraisers, McMansionites, Suburban Commandos (those who drive Hummers, more or less the same groups I just mentioned). Go back to selling used cars! You’re too compasionate. The financially irresponsible should not enter a game they don’t know how and are not qualified to play. Buyer Beware! The double-whammy is just a naturally occuring free-market mechanism to ensure that these losers never enter the same market again. Changing federal taxation laws to protect these losers invariably will take additional income away from the responsible ones. We’ve seen it here in Miami to a ridiculous degree. I will have a big smile on my face when the “ivory tower” of real estate comes crashing down on the very ones to whom this problem may be attributed. Bye bye developers, brokers, construction contractors, realtors, appraisers, McMansionites, Suburban Commandos (those who drive Hummers, more or less the same groups I just mentioned). Go back to selling used cars!

]]> By: Blown Mortgage - Winner at Carnival of Real Estate http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-4786 Blown Mortgage - Winner at Carnival of Real Estate Tue, 02 Oct 2007 06:26:06 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-4786 [...] If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!The Carnival of Real Estate is a weekly celebration of the best writing in the real estate “blogosphere”.  And this week the contest was held over at one of our favorite blogs, The Orange County Register’s Mortgage Insider blog.  Out of 30 entries this week yours truly was one of the 3 winning entries with my post A Bail Out is Still a Bail Out by Any Other Name. [...] [...] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The Carnival of Real Estate is a weekly celebration of the best writing in the real estate “blogosphere”.  And this week the contest was held over at one of our favorite blogs, The Orange County Register’s Mortgage Insider blog.  Out of 30 entries this week yours truly was one of the 3 winning entries with my post A Bail Out is Still a Bail Out by Any Other Name. [...]

]]> By: Morgan Brown http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-4765 Morgan Brown Mon, 01 Oct 2007 16:53:31 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-4765 Hi Bob, I am torn about the repeal of taxable income responsibility for discharged indebtedness simply because it seem awfully harsh to kick someone on the ground. Because it is confined to primary residences I am more inclined to support it. I simply believe that losing a home is sufficient penalty enough - and I am not a fan of taxes in general. What do you think Bob? Hi Bob,
I am torn about the repeal of taxable income responsibility for discharged indebtedness simply because it seem awfully harsh to kick someone on the ground. Because it is confined to primary residences I am more inclined to support it. I simply believe that losing a home is sufficient penalty enough – and I am not a fan of taxes in general.

What do you think Bob?

]]> By: Carnival of Real Estate #61 - Zillow Blog - Real Estate News and Analysis http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-4764 Carnival of Real Estate #61 - Zillow Blog - Real Estate News and Analysis Mon, 01 Oct 2007 16:44:19 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-4764 [...] Mortgage broker Morgan Brown’s “A Bail Out is Still a Bail Out by Any Other Name“ [...] [...] Mortgage broker Morgan Brown’s “A Bail Out is Still a Bail Out by Any Other Name“ [...]

]]> By: Mortgage Insider » Blog Archive » A thousand real estate voices - OCRegister.com http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-4761 Mortgage Insider » Blog Archive » A thousand real estate voices - OCRegister.com Mon, 01 Oct 2007 14:32:15 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-4761 [...] A Bail Out is Still a Bail Out by Any Other Name Get ready for a 180 degree turn (from my first pick). Mortgage broker and blogger Morgan Brown summarizes the many proposals by President Bush and Congress to aid financially struggling homeowners avoid foreclosure. He disparages the idea of helping homeowners who gambled on rising home prices and lost. Bottom line: This is a good wrap-up piece with some colorful opinion and ya, you bet I favor writers on mortgages. Here?s a taste of his long post: The American government has always come to the rescue of those who fall out of the market?s favor. Farmers of cotton receive subsidies north of 80% for each bale of cotton sold; no less than the automotive, savings & loan and airline industries have been receive billions in US government hand outs to help further American interests. If the proletarian homeowner can?t get in line for a hand out with those regulars, what good is their government to them? The US government continues to play with state-sponsored socialism in situations where it benefits them the most; and this year its all about looking good for elections. Joe America is going to be looking at the world (and ballot) through the lens of the bay-window of their McMansion ; and whomever helped keep him there the longest is going to get his vote. [...] [...] A Bail Out is Still a Bail Out by Any Other Name Get ready for a 180 degree turn (from my first pick). Mortgage broker and blogger Morgan Brown summarizes the many proposals by President Bush and Congress to aid financially struggling homeowners avoid foreclosure. He disparages the idea of helping homeowners who gambled on rising home prices and lost. Bottom line: This is a good wrap-up piece with some colorful opinion and ya, you bet I favor writers on mortgages. Here?s a taste of his long post: The American government has always come to the rescue of those who fall out of the market?s favor. Farmers of cotton receive subsidies north of 80% for each bale of cotton sold; no less than the automotive, savings & loan and airline industries have been receive billions in US government hand outs to help further American interests. If the proletarian homeowner can?t get in line for a hand out with those regulars, what good is their government to them? The US government continues to play with state-sponsored socialism in situations where it benefits them the most; and this year its all about looking good for elections. Joe America is going to be looking at the world (and ballot) through the lens of the bay-window of their McMansion ; and whomever helped keep him there the longest is going to get his vote. [...]

]]> By: The Odysseus Medal competition — The long list | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/comment-page-1/#comment-4730 The Odysseus Medal competition — The long list | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments Sun, 30 Sep 2007 19:11:41 +0000 http://blownmortgage.com/2007/09/29/a-bail-out-is-still-a-bail-out-by-any-other-name/#comment-4730 [...] and monopolies, Good Standards Break Monopolies, Not Make ThemMorgan Brown — FHA bailout, A Bail Out is Still a Bail Out by Any Other NameKevin Boer — Foxtons/AR/Move, Today?s Real Estate Gossip: Move.com Does A Microsoft; Foxtons [...] [...] and monopolies, Good Standards Break Monopolies, Not Make ThemMorgan Brown — FHA bailout, A Bail Out is Still a Bail Out by Any Other NameKevin Boer — Foxtons/AR/Move, Today?s Real Estate Gossip: Move.com Does A Microsoft; Foxtons [...]

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