Conifer Town Center Foreclosure

hvgal wrote: Homeagain, if I knew how to do that fancy in-the-box quote thing I would but I don't.

Here's how, just FYI: Click on the Quote button located at the bottom right hand corner of each post. It will open the reply box for you to type your reply in with the member's post you quoted already in there.

This info may be incorrect, but I heard that it wasn't the developers who set the ridiculously high rents, but rather the bank who held the loan, so that even if the developers wanted to lower rents in order to help the tenants stay in business and continue to pay them, they couldn't. Anyone know if that could be true? If so, the banks are yet again screwing over this economy recovery. My next door neighbor, who's been selling real estate since he was 18 and is a whiz at economics, rails at the loan approvals. He claims that if banks would start approving refinances for self-employed (like himself - he's considered "high risk" because he works for himself, despite the fact that he's never been late on a payment on his house that he's owned for 7 years), on jumbo loans, or for people who have great credit histories, especially if they are upside down on the mortgages through no fault of their own (like getting a no-interest loan prior), that we'd actually start seeing the economic recovery that low interest rates were supposed to provide. Unfortunately, banks are focusing on hoarding their cash, not approving loans, and screwing over the majority of the public by implementing more and more fees instead...