Road Map to a Housing Rebound

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Still no one addressing the main issue with the housing market: A huge number of people upside down on their mortgages. It's like being chained to a dead man. People can't relocate because of their dead investment. People can't move up or down, their stuck and then if their situation changes to where the MUST get out of their mortgage the only option is mailing the keys back to their lender.
Want to break the logjam? Write a addendum to the existing bankruptcy laws that allow the judge or trustee to rewrite the terms and/or the cost basis of the mortgage or second mortgage. This allows the mortgagee to stay in their home but cut the cord to the corpse of their over priced mortgage. Then if they sell they're not upside down.
Funny they found a BOA spokesman to comment on the story. It's BOA's crappy mortgages, sloppy paperwork, and improper forclosures that have the system so gummed up. Update your resume' my dear sir, your company is circling the drain.

RamboJimbo of OH 1:17PM December 01, 2011