The discussion, this morning, reminds me of a one-up contest for how bad things can be.
My colleague Paul Owers reported that four in ten single family homeowners with a mortgage in South Florida owe more than the property is worth.
And Broward Country Property Appraiser Lori Parrish said on CBS4 this morning to Michael Williams, “Over 50 percent and maybe over 70 percent of families in Broward are upside down on their mortgages.”
The discussion I’d like to have is what we’re going to do about this.
No more descriptions of what’s wrong. No more who-is-to-blame back and forth. I’d like to hear someone proposing a way to resolve it.
Treasury officials said last week that they are working on the issue.
But there’s little else. Frankly, I’m not hearing anything about resolving the issue from major lenders.
What ideas do you have?