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New NYS Foreclosure Law - will it do exactly the opposite of intended and lower property values?

Started by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009
Discussion about
Morons at it again? "designed to protect property values" except that when you make it harder for banks to foreclose, you do the opposite. They are less likely to loan money at the same rates to the same people, making prices less afforable. Not saying this is in itself a bad thing, but the timing... and the stupidity of expectations. >> New law to help owners facing foreclosure Gov. David Paterson signs legislation designed to protect both homeowners and neighborhoods; banks expected to maintain properties, work with borrowers. http://www.crainsnewyork.com/article/20091216/FREE/912169991/1059
Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

surprised nobody had any comments here. Does that mean y'all think I'm right?

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Response by The_President
about 16 years ago
Posts: 2412
Member since: Jun 2009

no, the lack of comments just means your an idiot.

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