{"id":4908,"date":"2008-10-13T12:00:40","date_gmt":"2008-10-13T19:00:40","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4908"},"modified":"2008-10-12T22:53:57","modified_gmt":"2008-10-13T05:53:57","slug":"you-dont-always-get-what-you-want-but-if-you-try-sometime-you-might-find-you-get-what-you-need","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4908\/you-dont-always-get-what-you-want-but-if-you-try-sometime-you-might-find-you-get-what-you-need\/","title":{"rendered":"You Don’t Always Get What You Want, But If You Try Sometime, You Might Find, You Get What You Need"},"content":{"rendered":"

If you are a mortgage holder who is either struggling with crushing payments, bitter for having overpaid for your home during the bubble, or who has extravagantly refinanced when prices were rising, the government’s landmark $700 billion bailout package has an important message for you: stop making your mortgage payments<\/em>.<\/p><\/blockquote>\n

So says Peter Schiff, president of Euro Pacific Captital and author of “The Little Book of Bull Moves in Bear Markets” in his op\/ed piece entitled, Just Stop Paying Your Mortgage<\/a>.\u00a0 You may or may not read it with tongue in cheek, but read it you should.<\/p>\n

When a financial institution holds a mortgage, homeowners must live with the fear of foreclosure. Private institutions only have obligations to shareholders. In the case of a defaulting borrower, they will look to recover as much of their principal as possible. If foreclosure is their best option, they will take it in a heartbeat. <\/em><\/p>\n

The government has no such obligations. Its only goal is to keep voters happy. After supposedly bailing out the fat cats on Wall Street, no politician wants to be accused of evicting struggling families. Once you understand this, all of your anxiety should melt away.<\/em><\/span><\/em><\/p><\/blockquote>\n

The law of unintended consequences is never so manifest, or insidious, as when politicians correct<\/em> the free market with legislation.\u00a0 (Except, perhaps, when they do so because they are …from the government and … here to help<\/a>.)<\/p>\n","protected":false},"excerpt":{"rendered":"

If you are a mortgage holder who is either struggling with crushing payments, bitter for having overpaid for your home during the bubble, or who has extravagantly refinanced when prices were rising, the government’s landmark $700 billion bailout package has an important message for you: stop making your mortgage payments. So says Peter Schiff, president […]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[26],"tags":[],"class_list":["post-4908","post","type-post","status-publish","format-standard","hentry","category-lending","no-featured-image"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17130,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17130\/mortgage-refinancing-and-forbearance-three-balls-you-walk-one-strike-and-your-out\/","url_meta":{"origin":4908,"position":0},"title":"Mortgage Refinancing and Forbearance: Three Balls, You Walk, One Strike, You’re Out","author":"Brian Brady","date":"September 24, 2020","format":false,"excerpt":"One of the most consistent of the \"old school mortgage bloggers\" is Rhonda Porter in Seattle, writing over on The Mortgage Porter.\u00a0 She offers no-frills information about mortgage markets, the kind of straightforward advice homeowners need.\u00a0 Her blog is almost 15 years old. I wanted to advise current homeowners why\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/09\/blogging-guide-xYaMK5p3vCA-unsplash-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":16638,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16638\/va-interest-rate-reduction-loans-irrl-and-forebearances\/","url_meta":{"origin":4908,"position":1},"title":"VA Interest Rate Reduction Loans (IRRL) and Forbearances","author":"Brian Brady","date":"August 21, 2020","format":false,"excerpt":"A VA Interest Rate Reduction Loan (IRRL) is a streamlined refinance mortgage which allows veterans to lower their interest rate and payment without an appraisal, income qualification, or assets documentation.\u00a0 It is a simple process which, over the years, has been subject to lender overlays but still offers veterans a\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5993,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5993\/can-we-stop-falling-house-values-an-op-ed-piece-by-the-nahb\/","url_meta":{"origin":4908,"position":2},"title":"Can We Stop Falling House Values? An Op Ed piece by the NAHB","author":"Tom Vanderwell","date":"December 9, 2008","format":false,"excerpt":"This is excerpts from an op ed piece written by Steve Hodgkins.\u00a0\u00a0 I\u2019ll throw some comments in to explain\/clarify what he\u2019s saying and why I don\u2019t agree with a large portion of it. The decline in single-family home values is the predominate reason for the current economic collapse\u2026\u2026 Tom here\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7171,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7171\/what-if-they-reduced-a-tax-deduction-hardly-anybody-gets-if-youre-the-fib-spinning-pinocchio-at-the-national-association-of-realtors-your-whole-make-believe-world-just-collapsed\/","url_meta":{"origin":4908,"position":3},"title":"What if they reduced a tax deduction hardly anybody gets? If you\u2019re the the National Association of Realtors and you’ve been spinning lies for decades about mortgage interest deductibility, your whole make-believe world just collapsed\u2026","author":"Greg Swann","date":"June 9, 2010","format":false,"excerpt":"Kicking this back to the top. It's news again. I wrote this post more than a year ago, but, per The Hill, the tax-deductibility of mortgage interest is back on the table:The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5638,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5638\/thus-does-big-mother-make-gonophs-of-us-all-how-to-keep-your-house-by-taking-taxpayers-for-a-ride\/","url_meta":{"origin":4908,"position":4},"title":"Thus does Big Mother make gonophs of us all: How to keep your house by taking taxpayers for a ride","author":"Greg Swann","date":"November 16, 2008","format":false,"excerpt":"This is choice, from the San Francisco Chronicle:To qualify, you must be at least 90 days delinquent and live in the home as your primary residence. You must owe at least 90 percent of the home's value. It's fine if you owe more than it's worth. Your mortgage must be\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7903,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7903\/fha-and-va-assumable-loans-offer-an-exit-strategy-for-todays-buyers\/","url_meta":{"origin":4908,"position":5},"title":"FHA and VA Assumable Loans Offer an Exit Strategy For Today’s Buyers","author":"Brian Brady","date":"April 16, 2009","format":false,"excerpt":"How can an FHA mortgage or VA home loan sell a home faster?\u00a0\u00a0 When mortgage rates are 10% and the 5% government loan is assumable. I've taken a few pokes at the contributors on Active Rain; John MacArthur isn't one of them.\u00a0 John is a Branch Manager with Long and\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=4908"}],"version-history":[{"count":10,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4908\/revisions"}],"predecessor-version":[{"id":4921,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4908\/revisions\/4921"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=4908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=4908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=4908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}