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Detailed text transcripts for TV channel - FOXNEWS - 20101218:18:47:00

After program trying to prevent foreclosures, it s a complete disaster and at first 4 million home owners less than 400,000 have been helped and they re looking at redefault rate of 40%. jamie: wow. and back to the addage of reality exists all the intervention in the marketplace, obviously, the most altruistic intentions, trying to help people in need doesn t do people service, it can cause more problems, jamie, a legion of unscrupulous operators, not the banks, mind you, but con men and women signing fictitious because they ve heard about the programs. jamie: it s coming to light, jonathan that banks do a lot of this paper work wrong. now when it comes to foreclosure what the borrower can do in less than a minute. what advice? my advice would be to take the advice that we re giving people on fox business and fox news years ago, pay your mortgage. you ve got a home you can t ....

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Detailed text transcripts for TV channel - FOXNEWS - 20101218:18:46:00

Outright or controlled largely by the government and the free market for housing ideally supposed to reflect reality doesn t exist at all. the mortgage is a pretty simple document between lenders and borrowers and what states, what governments have to do with it at all remains to be seen other than prolong the crisis and make it worse for all involved. jamie: and that mortgage document is a note. the banks sell those and you have to make sure they have them, but i digress. the government in a program and i went back today on my own just to check, making home affordable.gov with all kinds of promises that they would high pressure you make your payments if you could. let s face it millions of americans can t. i know you want to and sometimes they can t. what is out there. anything in the new year? well, you re right. the program, making homes affordable act and the governor has put forth program ....

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