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"Sorry, Gil. I think your Negative Equity Carryover Model is insane! HOW LONG should borrowers be haunted by being upside down on a home bought 5-10 years ago? Forever? Your plan would deprive borrowers of the relief available by a short sale or a deed in lieu. What we really need is Bankruptcy reform, giving BK judges the ability to modify first mortgages of primary residences in Bankruptcy. At present, we are only able to get second mortgages discharged on a primary residence."    View Comment
"Oh, the illiteracy! "Economies are better off when people are making decisions based on economic PRINCIPALS rather than tax considerations." Whatever happened to economic PRINCIPLES? And, Mr. Powell, the mortgage interest deduction is not a "holy cow," but a "SACRED cow" (the reference is to the Hindu religion, which holds cows sacred). You've got it mixed up with Phil Rizzuto's home run call. Nevertheless, taking the deduction away would be political suicide..."    View Comment
"Yikes! So, Don is a professional tea-partier (and paranoid)! No, Don, unlike you, we are not tools of the banks. Most of us work honestly every day to put qualified borrowers into homes. I have NEVER advised a client to get a gov't mortgage. And, although being self-employed and NOT a tax cheat as Jason painted us all with his broad brush, I can't afford a $250K home, let alone the $!M McMansion he imagines all "self-employed tax cheats" live in. I'll remind him that SMALL BUSINESS..."    View Comment
"Yeah, AQ and some of the others ARE gaming the AMC system!"    View Comment
"It's not the wrong lender. it's the wrong state! Here in metro NY, it's risky to do a 45-day lock, and some lenders will only accept 60-day locks! And, I echo what's been said since HVCC came in. All the appraisal mgmt companies do is increase the cost of appraisals by 40%, and add delay and error to the process. We get appraisers from upstate who wouldn't know a comp if it bit them in the a_ _. They have NO business apparising properties in markets with which they are unfamiliar..."    View Comment
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