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March 28th, 2010
11:18 AM ET

Breaking Down Mortgage Reform

You can catch Clyde Anderson's Home School reports Saturday mornings with TJ Holmes in the CNN Newsroom, beginning 6am ET/ 3am PT.

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  1. Don

    When you Discount these Homes by reducing the Value, Make Sure the Property Tax Value is adjusted also, It does not matter if you get a home for free, If you cannot pay the Taxes, You cannot KEEP It!

    March 28, 2010 at 11:30 am |
  2. Stephen

    Clyde Anderson missed a character, besides 'Irritated Iris' and 'Responsible Roger', who will benefit from people being helped when the neighborhood stabilizes. What about thousands like me who've never been in debt, always pay off credit cards monthly, and have stellar credit scores? I've over two years of salary in the bank, which is about 28% downpayment on a median SFH here in Honolulu, but I can't afford the monthly payments on the remaining 72% I'd have to borrow; banks offer it to me, but the payments would be almost 50% of my monthly gross, so I won't borrow because I KNOW I can't afford it. Period. And now I see that borrowers who took on such debt now might be helped to stay in the homes they can't afford. And because they won't now have to sell because they'll get help from my taxes, those who have been fiscally responsible and saved can't take advantage of lower prices... because prices won't fall (so much). So I have to delay my buying plans, or borrow more! Well, why can't the government give me another $50k for my downpayment? No, make it $100k 🙂 Then I could afford to buy the media SFH. Well, why not? Prices are being maintained above what they should be, because the government is 'helping' people stay in houses they shouldn't have bought. Not their fault? Not mine either, so where's my 'help'?

    March 28, 2010 at 11:18 pm |