Comments on: American consumers, left with the debt and none of the assets http://blownmortgage.com/2008/08/10/american-consumers-left-with-the-debt-and-none-of-the-assets/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Mon, 09 Nov 2009 22:42:54 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Jo in Oregon http://blownmortgage.com/2008/08/10/american-consumers-left-with-the-debt-and-none-of-the-assets/comment-page-1/#comment-13091 Jo in Oregon Mon, 11 Aug 2008 16:02:25 +0000 http://blownmortgage.com/?p=1221#comment-13091 As Manny says, these sovereign funds may be surprised at the condition of some of the foreclosed homes they are buying. 50 cents on the dollar is about double what they are worth at this time. And getting permission to use the property differently is can entail an expensive hassle with city planning officials. They may rue the day... As Manny says, these sovereign funds may be surprised at the condition of some of the foreclosed homes they are buying. 50 cents on the dollar is about double what they are worth at this time. And getting permission to use the property differently is can entail an expensive hassle with city planning officials. They may rue the day…

]]> By: manny http://blownmortgage.com/2008/08/10/american-consumers-left-with-the-debt-and-none-of-the-assets/comment-page-1/#comment-13090 manny Sun, 10 Aug 2008 22:23:39 +0000 http://blownmortgage.com/?p=1221#comment-13090 Let's think about this for a second. What are these foreign weaith funds going to do with these properites? Are they gonna move in their in-laws? No. As I see it, they only have two options. They can either turn around right away and sell it for a profit (good luck), or, they can rent it out for a profit (good luck).<br><br>A variation on option 2 is to rent it out at a loss and hope to sell it for a profit in the future (good luck). I love this option. They would be susidizing my rent!! Cool. Throw a few bones to the families who lost their homes to foreclosure. This is the least they can do for helping to blow up the housing bubble. Let's think about this for a second. What are these foreign weaith funds going to do with these properites? Are they gonna move in their in-laws? No. As I see it, they only have two options. They can either turn around right away and sell it for a profit (good luck), or, they can rent it out for a profit (good luck).

A variation on option 2 is to rent it out at a loss and hope to sell it for a profit in the future (good luck). I love this option. They would be susidizing my rent!! Cool. Throw a few bones to the families who lost their homes to foreclosure. This is the least they can do for helping to blow up the housing bubble.

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