The Foreclosure Problem - Has It Gone Too Far?

A plague of foreclosures has descended in many locations around the United States. How will the problems of today reflect on the ability of new buyers to get loans in the future?
Comments on article "The Foreclosure Problem - Has It Gone Too Far?"
Name Views and CommentsDate
starla As you may be purchasing a foreclosure, buying a new home or renting...link to a site called wecompareinsurance to get great competitive insurance rates for home or renter's insurance. It’s a great way to save money in today’s economy! 4/25/2009
Ray Verhaalen An idea for saving laid-off workers' homes.

Many people who are being laid-off today have 401k money. Allow the laid-off worker a hardship withdrawal of his/her 401k money without penality to pay off their mortgage. If the tax liability of the withdrawn amount could be spread over 10 years, I am sure this would also help many.

Using 401k money to pay off a house IS like putting money towards retirement. It is a good, sound investment, and one that pays dividends in many ways. As for the 'lost' 401k money, most will find another job. Current rules allow older people to put away about 21,000.00 per year into a 401k. Younger workers will have more time to make up the 'loss' in their 401k. All will be better able to pay into another 401k, given they no longer have a mortgage to pay.		 2/11/2009
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