Comments for SunWest, REALTORS® http://texasrealestatetalk.com Fri, 04 Jun 2010 16:16:11 -0700 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Sanctity of Contract by admin http://texasrealestatetalk.com/sanctity-of-contract/comment-page-1/#comment-166 admin Fri, 04 Jun 2010 16:16:11 +0000 http://texasrealestatetalk.com/?p=203#comment-166 I appreciate Philip's comments. Regarding Morgan Stanley, unfortunately that is a different situation than your typical homeowner. In Morgan Stanley's situation,the building was the only collateral for the loan. There was no personal guarantee so the only recourse the lender had was to take back the properties. When a homebuyer signs a deed of trust or mortgage there is personal guarantee that the note will be paid regardless of the value of the home. In regards to the "right BY LAW' to strategically default, I am not aware of that being the 'LAW" in any of the 50 states. If contracts do not mean anything, than lenders will not lend money because there is no recourse if the borrower defaults. Only borrowers that the lender was sure would repay would be able to borrow money. That situation would certainly damage our economy in the long run. Thanks for your thoughts. I appreciate Philip’s comments. Regarding Morgan Stanley, unfortunately that is a different situation than your typical homeowner. In Morgan Stanley’s situation,the building was the only collateral for the loan. There was no personal guarantee so the only recourse the lender had was to take back the properties.

When a homebuyer signs a deed of trust or mortgage there is personal guarantee that the note will be paid regardless of the value of the home. In regards to the “right BY LAW’ to strategically default, I am not aware of that being the ‘LAW” in any of the 50 states.

If contracts do not mean anything, than lenders will not lend money because there is no recourse if the borrower defaults. Only borrowers that the lender was sure would repay would be able to borrow money. That situation would certainly damage our economy in the long run. Thanks for your thoughts.

]]> Comment on Cap and Trade by Josh Maxwell http://texasrealestatetalk.com/cap-and-trade/comment-page-1/#comment-165 Josh Maxwell Fri, 04 Jun 2010 16:03:34 +0000 http://texasrealestatetalk.com/?p=290#comment-165 Nice writing style. I look forward to reading more in the future. Nice writing style. I look forward to reading more in the future.

]]> Comment on Sanctity of Contract by Philip Crawford http://texasrealestatetalk.com/sanctity-of-contract/comment-page-1/#comment-164 Philip Crawford Thu, 03 Jun 2010 13:20:13 +0000 http://texasrealestatetalk.com/?p=203#comment-164 What a bunch of propaganda. Homeowners are simply exercising their abilities to negotiate. This happens ALL the time in business and nobody, I mean NOBODY talks about "sanctity of contract". Did Morgan Stanley break the "Sanctity of Contract" here: http://www.bloomberg.com/apps/news?pid=20601206&sid=a1ZCToo1eY3s Because that's what businesses do when they renegotiate the terms of an existing contract. Contracts aren't guarantees. Long story short. Banks made terrible lending decisions and so did borrowers. Many of those borrowers should strategically default. The have the right BY LAW to do so. Arguing otherwise is disingenuous. What a bunch of propaganda. Homeowners are simply exercising their abilities to negotiate. This happens ALL the time in business and nobody, I mean NOBODY talks about “sanctity of contract”.

Did Morgan Stanley break the “Sanctity of Contract” here:
http://www.bloomberg.com/apps/news?pid=20601206&sid=a1ZCToo1eY3s

Because that’s what businesses do when they renegotiate the terms of an existing contract. Contracts aren’t guarantees.

Long story short. Banks made terrible lending decisions and so did borrowers. Many of those borrowers should strategically default. The have the right BY LAW to do so. Arguing otherwise is disingenuous.

]]> Comment on Housing Tax Credit Timetable by scholarships for women http://texasrealestatetalk.com/housing-tax-credit-timetable/comment-page-1/#comment-156 scholarships for women Thu, 27 May 2010 23:25:19 +0000 http://texasrealestatetalk.com/?p=181#comment-156 I’ve recently started a blog, the information you provide on this site has helped me tremendously. Thank you for all of your time & work. I’ve recently started a blog, the information you provide on this site has helped me tremendously. Thank you for all of your time & work.

]]> Comment on Blog by Lee http://texasrealestatetalk.com/blog/comment-page-1/#comment-3 Lee Tue, 07 Jul 2009 20:54:38 +0000 http://texasrealestatetalk.com/?page_id=29#comment-3 This type of program is what I would call a mixed blessing. Housing certainly needs a boost but would we be better off in the long run if we just let the free market work. Tough call. This type of program is what I would call a mixed blessing. Housing certainly needs a boost but would we be better off in the long run if we just let the free market work. Tough call.

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