Comments by "J Garcia" (@jorge1170xyz) on "Foreclosure Prevention Crisis" video.

@mg-by7uu They can extend it for years this way though. It's absolutely disgusting. They (generally speaking, Democrats) just want to buy time until wage inflation makes the current prices and loans affordable and no politician got sent home. I'm skeptical about their chances of success though.
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Moral hazard described in one sentence.
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Nobody should biy a home thay doesn't cashflow on day one (in the case that it must be rented). Modifications are rewarding poor decisions at the expense of the person who should actually be occupying the property.
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@CharlesWangLA I disagree, especially if the loan mod is being paid indirectly by the taxpayer (which they almost all are, via backdoor bank bailouts and printing and also paid in the form of higher home prices for the people who are waiting with ample income, but the structures aren't being vacated by the non-payers). What does "you have to live somewhere have to do with mortgages?" Rentals exist and so does moving back in with your folks (for some people, at least).
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@CharlesWangLA You're arguing the benefit to the borrower, I'm arguing the injustice to everyone else. I guess I'm cokd hearted but it's not my problem, or society's problem, if they cant live up to the obligation they signed up for.
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Absolutely disgusting.
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