A new MOST STUPID “solution” for foreclosures comes from the lovely nearly bankrupt state of California that is run by a horde of irresponsible 2 year olds (my apologies to 2 year olds everywhere). California wants to use eminent domain authority to wipe out mortgage debt for homeowners, but the homeowners get to keep their home with greatly reduced mortgage debt. It’s amazingly stupendous stupid ideas like this that make my head explode! Not to mention why mortgage underwriting is only going to get much tougher!
From Lonnie Glessner, America’s Mortgage LLC * Office: 303-993-2367 * Cell: 303-881-6374 * Lonnie@EndingFinancialInsanity.comContinue reading →