reason for a national parcel system

the use or nonuse of application info, credit reports, etc. didn't help. how would this?

> >...
> "Is there any question that the current mortgage foreclouse crisis in America could have been prevented, or at least recognized early and minimized, if we had a national parcel system?"
>
> Do you agree or disagee? Discuss, discuss.
>
> Stephen

This guy has to be kidding. Without reading the article I don't know what he's basing this staement on, but I'll be danged if I understand how such a system being in place could have prevented, let alone minimized, our recent housing bubble from bursting. It didn't have anything to do with geographical location of parcels. That was all about lending policies created by banks to coerce people into buying those parcels. Comparing apples to oranges in my book.

Besides, we already have such a system in place far as the general dumbed down American public knows. It's called GIS. Ask anybody these days and they'll tell you they can go online, or down to the county's tax assessor's office and get a "map" of their "parcel".

Actually, the lending policy was implemented and forced on the banks by our "wonderful" government and the vast majority of loans (I believe I heard it was 90%) were guaranteed by fredie and fannie (i.e. our "wonderful" government). The government felt that low income (not only minorities, but ALL low income) people should be able to buy a house whether they could afford it or not.

The banks went along for the ride and wall street bet most everything on something that nobody understood.

:good:

Perhaps a national parcel ID number to help GIS, but how in the world will that prevent anything. It's just data management.

However, in terms of the data it could be akin to car insurance companies reporting to the state (or fed) whenever somebody cancels insurance. There is your data base. The police have 24/7/365 access to that data base all over the country, thus catching bad guys.

So, if somebody goes to foreclosure, the bank reports it to Big Brother via the National ID number, then it would potentially end up on that national GIS data base foreclosure layer. So all potential concerned parties with that property would/could be notified at the click of a button as to that status.

Then the even bigger brother would need somebody to administer all that.

Scary

As opposed to an individual credit report.

PS - no hijack intended

> Actually, the lending policy was implemented and forced on the banks by our "wonderful" government and the vast majority of loans (I believe I heard it was 90%) were guaranteed by fredie and fannie (i.e. our "wonderful" government). The government felt that low income (not only minorities, but ALL low income) people should be able to buy a house whether they could afford it or not.
>
> The banks went along for the ride and wall street bet most everything on something that nobody understood.

I would disagree with you there. Imoho, the banking cartel dictates government financial policies. Not the other way around. But, to discuss that issue we'd be treading in P&R waters and I'm not going there. :-O

It is forbidden!, I tell you!

😉

Is there any question

That's like saying that having national license plats for vehicles will stop accidents.

> Perhaps a national parcel ID number to help GIS, but how in the world will that prevent anything. It's just data management.
>
> However, in terms of the data it could be akin to car insurance companies reporting to the state (or fed) whenever somebody cancels insurance. There is your data base. The police have 24/7/365 access to that data base all over the country, thus catching bad guys.
>
> So, if somebody goes to foreclosure, the bank reports it to Big Brother via the National ID number, then it would potentially end up on that national GIS data base foreclosure layer. So all potential concerned parties with that property would/could be notified at the click of a button as to that status.
>
> Then the even bigger brother would need somebody to administer all that.
>
> Scary
>
> As opposed to an individual credit report.
>
> PS - no hijack intended

Actually I think you have hit the nail on the head rather than hijack the thread. A real time index of all real estate activities on a national level, supplied to the correct agency, would be a powerful predictive tool.

Perhaps there is room for a little bit of both viewpoints. I certainly do not want to be responsible for starting a p&r war where there should not be one.....

I don't get it. What would have prevented the mess was a verification of income, accurate appraisal. Everytime I bought property (3 times), I had to go to great lengths to prove everything. Not sure how all these people without the capability to pay got through it.

When he says "foreclosure crisis", he might be talking about how some banks don't even appear to know what they have the right to foreclose on, and some banks are foreclosing on the wrong houses, etc.

Now, I don't know how a national GIS would fix this, but perhaps he's talking about the aftermath of housing bubble, rather than what caused the bubble ... just a guess.

Trying to sell houses to those that couldn't afford payments, was the biggest contributor. Get rid of Fanny and Freddy, and our tax dollars holding them up is the answer. Our government shouldn't be controlling who gets the loans. Everything they do gets messed up, and we get to pay for it. They need to investigate those politicians involved, and Fanny/Freddy.

> Trying to sell houses to those that couldn't afford payments, was the biggest contributor. Get rid of Fanny and Freddy, and our tax dollars holding them up is the answer. Our government shouldn't be controlling who gets the loans. Everything they do gets messed up, and we get to pay for it. They need to investigate those politicians involved, and Fanny/Freddy.

According to my realtor wife, Fannie and Freddie are the only entities lending money for homes these days. If it wasn't for them we wouldn't be working (there wouldn't be a real estate industry). Fannie and Freddie are in our interest, the Banks certainly aren't.

When the banks and other mortgage lenders do not have much "skin" in the game they are going to take risks.
It is time to dissolve FnMA and Freddy and pass legislation that makes a lender hold the note until paid off. No selling of notes, mortgage brokering etc.
The banks and lenders will then make sure that they verify income, employment, etc.
If this was done prior to 2002 or there bouts we would not be in this mess.

Scott

> > Trying to sell houses to those that couldn't afford payments, was the biggest contributor. Get rid of Fanny and Freddy, and our tax dollars holding them up is the answer. Our government shouldn't be controlling who gets the loans. Everything they do gets messed up, and we get to pay for it. They need to investigate those politicians involved, and Fanny/Freddy.
>
> According to my realtor wife, Fannie and Freddie are the only entities lending money for homes these days. If it wasn't for them we wouldn't be working (there wouldn't be a real estate industry). Fannie and Freddie are in our interest, the Banks certainly aren't.
From a realtor's point of view she would be correct.

From the rest of the country's viewpoint (when properly informed) she would be diametrically opposed to what is best for the country. Fanny/Freddy need to be disappeared.

YMMV

> When the banks and other mortgage lenders do not have much "skin" in the game they are going to take risks.
> It is time to dissolve FnMA and Freddy and pass legislation that makes a lender hold the note until paid off. No selling of notes, mortgage brokering etc.
> The banks and lenders will then make sure that they verify income, employment, etc.
> If this was done prior to 2002 or there bouts we would not be in this mess.
>
> Scott

Scott,

Go back into the 1990's. Around 1993-1995, was the beginning.

National license PLATS?!?!

Freudian Lisp!

Stephen

Yes! Flat fingers!

> From a realtor's point of view she would be correct.
>
> From the rest of the country's viewpoint (when properly informed) she would be diametrically opposed to what is best for the country. Fanny/Freddy need to be disappeared.
>
> YMMV

People need loans in order to buy homes. If people don't buy homes there is no real estate industry and there are no more land surveyors. Quit thinking that if the Government doesn't spend money you will not be affected...you will be affected.