Why Long Island real estate deals fal...

Why Long Island real estate deals fall through

There are 7 comments on the Newsday story from Sep 12, 2008, titled Why Long Island real estate deals fall through. In it, Newsday reports that:

Buyers have mad an offer; the sellers have said yes. Sometimes, that's not enough.

Join the discussion below, or Read more at Newsday.

SUSAN

Bellmore, NY

#1 Sep 12, 2008
The facts are;
Until the Democrats took over the House and the Senate AMERICA WAS PROSPERING!!!
The Housing Market fell off the cliff the same month Chris Dodd became the Chairman of the Senate Banking Committee. Read his acceptance speech and focus on the items he intended to address and fix.
FIX, you got to be kidding! Once he attacked Predatory Lending (code for Subprime), Mortgage Banks failed/closed rapidly, and limiting resources for millions of homeowners to refinance out of their adjustable loans. But what He/Or the Democrats didn't understand was that was a needed/necessary tool in the housing market. Fannie and Freddie Mac needed subprime, millions of B/C borrowers needed Subprime.
If New Century, Fremont, Option One, Ameriquest, Long Beach, Delta Funding, WMC Direct, First Franklin were still in business, MILLIONS OF AMERICANS would have the options available to them to get out of FORECLOSURE. Subprime was not the evil that it was sold to the American public to be. As you now see, it was the tool that was needed to keep the American Housing Industry afloat. More people achieved the American dream of Homeownership under George Bush than any President, more minorities too. Now more people will lose the dream, more people will lose their equity savings to send their children to college, more banks will fail, the FDIC will fail under the Democratic House and Senate than ever before. And now we are suppose to put a Democratic in the top spot, to continue the fleecing of the American people. The entire USA mortgage industry is under the control of the government. Where is free-enterprise??

“Here we go again....”

Since: Sep 08

West Islip, New York

#2 Sep 12, 2008
6. The most important reason is the over priced houses. The fact that sellers think their outdated, water damaged, mold infested homes are worth $375,000.
dave

Hicksville, NY

#3 Sep 12, 2008
LI Lady wrote:
6. The most important reason is the over priced houses. The fact that sellers think their outdated, water damaged, mold infested homes are worth $375,000.
they are on LI. if i have to explain why, you shouldnt be posting.
Crabby

United States

#4 Sep 12, 2008
There are SO MANY better places to live than L.I. that are affordable, and a much better quality of life.
lmao

Kissimmee, FL

#5 Sep 12, 2008
no mention of banks giving pre-approvals on a whim, then going to closing to find out you never qualified in the first place. pre-approvals are all semantics. I bet that new "regulations" are going to cause more people to be disqualified from the get go. no mention of people falling ill or getting injured as reasons for deals falling through.
captain clueless

Tucson, AZ

#6 Sep 14, 2008
SUSAN wrote:
The facts are;
Until the Democrats took over the House and the Senate AMERICA WAS PROSPERING!!!
The Housing Market fell off the cliff the same month Chris Dodd became the Chairman of the Senate Banking Committee. Read his acceptance speech and focus on the items he intended to address and fix.
FIX, you got to be kidding! Once he attacked Predatory Lending (code for Subprime), Mortgage Banks failed/closed rapidly, and limiting resources for millions of homeowners to refinance out of their adjustable loans. But what He/Or the Democrats didn't understand was that was a needed/necessary tool in the housing market. Fannie and Freddie Mac needed subprime, millions of B/C borrowers needed Subprime.
If New Century, Fremont, Option One, Ameriquest, Long Beach, Delta Funding, WMC Direct, First Franklin were still in business, MILLIONS OF AMERICANS would have the options available to them to get out of FORECLOSURE. Subprime was not the evil that it was sold to the American public to be. As you now see, it was the tool that was needed to keep the American Housing Industry afloat. More people achieved the American dream of Homeownership under George Bush than any President, more minorities too. Now more people will lose the dream, more people will lose their equity savings to send their children to college, more banks will fail, the FDIC will fail under the Democratic House and Senate than ever before. And now we are suppose to put a Democratic in the top spot, to continue the fleecing of the American people. The entire USA mortgage industry is under the control of the government. Where is free-enterprise??
Are you out of your fuckingmind? Seriosuly. I wish all the bad things of the world happen to you, and only you.
captain clueless

Tucson, AZ

#7 Sep 14, 2008
And, free fuckingenterprise was the Fannie Mae bailout orchestrated by fucktard Bush. The price of homes went up %300 percent...how is that affordable? I hate you and all that you represent. Again, all bad things should happen to you. I hope you die alone, choking on a ritz.

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