Does the new Bush solution for foreclosures, Project Life Line, really help the distressed homeowner?
Is Project Life Line really addressing the biggest problem with distressed borrowers? That’s the fact that they’re over their heads and upside down in their mortgages?
Will time be bought for these defaulting owners who need their homes to go up in value so they can refinance or sell?
At what point should the government allow the chips to fall where they will? Can the government continue to bail out every business, every industry and everyone who is in financial trouble?
As we know many of these borrowers who are in big trouble bought into the notion that real estate prices would continue to climb indefinitely- maybe forever. Sometimes that doesn’t always happen with every real estate market. Now what?
My point is what will happen next when some of these same borrowers and distressed homeowners can not keep up even with the governmental life line?
Will the government be helping them even more, beyond Project Life Line, as a new administration moves into the White House next year?