Poll: What would you do?

The robo-signers have gone haywire, signing every foreclosure they see. Some of the foreclosures were processed without the proper due diligence. Let’s say that you are President Obama. You need to make the choice on whether to put a nationwide moratorium on foreclosure proceedings. On one hand you don’t want anyone to unjustly lose their home due; but on the other hand, the foreclosures will help the banks get back on the right track which will lead to a speedier recovery.

HMB Cribs wants to know: What would you do? Vote below, but also leave us comments to get your full point across.

[poll id=”2″]

8 Comments

  • J

    I feel sorry for the HOMEOWNERS WHO FIND THEMSELVES IN DIFFICULTY, DUE TO A BAD ECONOMY; DIVORCE; DEATH; LOSS OF JOB, ETC. HOWEVER, THE STRATEGIC FORECLOSURES- THE PROEPRTY DID NOT APPRECIATE- THEY SHOUDL EB SUED UP THE BUTT. AND THE PEOPLE WHO USED THE LIAR LOANS–STATED EVERYTHING TO BUY MCMANSIONS- THEY DESERVE WHAT THEY GET- LOSS OF EVERYTHING.

    A FRIEND OF MINE ( A REAL ESTATE BROKER) HAD SOME PEOPLE WHO PLAYED THE NEW CONSTRUCTION, BUY AND FLIP. MADE MONEY; SO DOUBLED UP; MADE MONEY-SO DOUBLE OR TRIPLED UP; MADE MONEY, BET IT ALL- AND LOST. THEY WERE NTO INVESTORS, NRO EEVN SPECUALTORS, JUST GAMBLING. LAST I HEARD, LOSING THEIR HOUSE. MY VIEW, PERHAPS HARSH, THEY DESERVE IT.

  • Keith

    What kind of a question is back the banks and save the recovery… Your question is all wrong!!! lets speak the truth; BACK THE BANKS AND CONTINUE WITH THE WAY THE RECOVERY IS GOING? Or protect homeowners from foreclosure?

  • Ben

    Most people that I have talked to have lost their job at NO FAULT of there own.

  • Marie Laborde

    The president should step in and help the homeowners because the banks got them there. If a bank give leeway to any one to own a mention, it will be a given. The banks even taught the homeowners how to lie. No one home owner would have ever taught of obtaining a loan without giving their paystubs and bank statement and w2 as usual. The banks said”no docs” it was a given the whole world poured in and just wiped off the banks buy and sell was the thing the cash heavy buyers. Many bought today and sold tomorrow for 100k more. THE BANKS AND SOME ONE ELSE ARE TO BLAME. HOW COME THIS MESS OCCURED? THE CONSUMERS HAD NOTHING TO DO WITH IT. it is the same as selling a bad product and now the banks are making a recall, the banks are to compensate the consumers for the distraction it has ever caused the consumers. Stress is killing this lady I know because the banks are putting her on the street because she can not pay the $6,100.00 it gave her 3 years ago. the bank showed her black and white how to obtain the payment which was a formula made for disaster. Soon after the banks started their recalls, the department of homeland security started deporting all the illegal immigrant who was a big part of the mortgage contribution via renting rooms.

  • Front Desk

    How Sad it is that the people who run the country could think that they could improve the country by taking from the people who pay the bills of the country.

    Through one word “foreclosure” we have turned “Brother Against Brother”. (Some neighbors care more about getting a “good deal” on their neighbors house than they do about whats going to happen to family that lives in that house”.

    The “Home” is the foundation of the country. The more people we throw into the street the weaker that foundation gets.

  • Charles Harris

    The real question is, will the rule of law prevail in this matter? The right to own property is guaranteed under the Constitution. Therefore, if the prescribed judicial process has not been followed in foreclosing on a citizen’s property, then a moratorium that leads to protecting property rights is justified, regardless of the effect on the banks or the economy.

    Setting aside the rule of law, in order to promote what some would call the “greater public good,” is precisely how individual rights under the Constitution have been and continue to be siphoned away.

    While it is difficult for me to admit that I agree with President Obama on anything, I could not fault him for a decision to halt foreclosures and hold banks and servicing companies accountable for their actions, in the matter of improper documentation.

  • Tom McCombs

    If by “backing the banks” you mean supporting them while the do the right things, then I feel that helping them get back on track is useful. But allowing them to run roughshod over homeowners is not acceptable. They must follow the laws like everyone else. No shortcuts.
    The loss of value was experienced by everyone, not just the homeowners, and it was not their fault. The homeowners are the ones who are actually losing their own money. The lenders were in most cases losing someone else’s money.
    The lenders sold those loans to faceless Wall Street investors who (should have) understood the risks. Sometimes investments work out and sometimes they don’t.

  • Paul Shippey

    First off, I agree with Tom. Back the banks, but DO NOT give them “carte blanche”, rather, enforce specific guidelines as what to do with the aid. Secondly, I’m in favor of ANY & ALL legislation that helps out the investor (REI). May I suggest ABOLISHING Fannie & Freddie?

  • Write a Comment

    Your email address will not be published. Required fields are marked *