OCCUPY WALL STREET

[Sachita]

Originally Posted by AtLast

That is the other side of this- so many people that had good credit now do not due to job loss and the whole damn mess.

But on the bright side, if there ever could be one, private companies are writing low interest loans for people with bad credit, even foreclosures. I've been catching wind of a few people who said "what the hell", applied and found all kinds of options. I was lucky because the crooks that hold my mortgage seriously screwed up and recorded all conversations. they defaulted me on the governments home loan modification and almost forced me into foreclosure because of it. I ready to sue the crap out of them and would have won... maybe 10 years later. Anyhow they came in, took 20K off my principal and dropped my rate to 5%. It happened just in time because there is no way over the past year that would have been possible. But now people are fed up, builders and modular home companies are taking risk. I admit that I would rather see the already existing surplus of homes being lived in but it may take some time for this.

The other positive thing I'm seeing in the home market is people downsizing and moving to smaller homes. I would have loved to have seen this movement happen 20 years ago. That and the government putting a cap on auto makers to not make cars that used more then 25 MPG, forcing them to change unless businesses wanted to apply for a special permit. It would force more local change which is something we do desperately need,.