I thought this was interesting, I read two editorials, one from yesterday’s New York Times and the other from today’s Wall Street Journal.

See if you can guess which excerpt goes to each paper.

One is entitled:
This year’s housing crisis:
… Things didn’t have to get this bad … The best way to modify an undewater loan is reduce the principal balance, lowering the monthly payment and restoring equity. But for the most part, lenders have refused to reduce principal because it would force them to make an immediate loss on the loan. Lenders have vehemently – and successfully – resisted Congressional efforts to change the law so that bankruptcy courts could reduce the mortgage balance for bankrupt borrowers. To avert the worst, the White House should alter its loan modification effort to emphasize principal reduction.

The other editorial is entitled:
Let’s stop pretending Fannie and Freddie serve the taxpayer:
some assert that Fannie Mae and Freddie Mac “the administration has put the public interest first. It has instructed their regulator to have them administer efforts to cut monthly mortgage payments for millions of Americans to avert foreclosure.”

It seems to me, that taking some money from tens of millions of taxpayers to give lots of money to a few million overleveraged homeowners may not be in the “public interest.” When the next politician congratulates himself over this heist while asking us for gratitude, Americans should realize whose interest is really being served.

Your thoughts?

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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