“Writing down the principal is akin to marking to market, something we as business owners are required to due under Generally Accepted Accounting Principles - GAAP says it is misleading to keep assets on your books that are not worth as much as you are telling people they are. It is definitely cheaper to work with existing homeowners and keep getting payments than to pay outrageous legal and real estate commission fees to dump the property at the lowest possible price. So, no, Fannie Mae would NOT be taking it on the chin, they would be rectifying a material misstatement of financial condition.”
Feb 8, 2012 at 21:31:21
“Citizens should be able to count on their government to not go back on their word and retroactively ban something. What if it was your land, and your house and you wanted to build that wine cellar you'd been planning for 15 years? Granted this is a much bigger project, and I realize there are two sides to every story, what with EIR's and new regulations and riparian rights in a drought year, etc. but let's everybody be sensible and civil - neighborly even.”
Feb 28, 2012 at 10:07:37
“As a resident of Lucas Valley Estates, I spoke in favor of the project, and applaud the decision. Tim Grady, grandson of the family that ran a dairy farm there for four generations said his grandfather taught him on that very knoll that "when you make a deal, you keep it", and thanks to George Lucas, now his grandson can hike there and enjoy this space for years to come.”
walkerhds on Feb 29, 2012 at 06:00:19
“you were doing so well until that line about the grandfather teaching a lesson in keeping your word. Entirely gratuitous, and just so quaint... one would almost think Lucas wrote it, and was going to try shoehorning it into the first three episodes of Star Wars...”
“I wrote an article for examiner.com calling this program a farce last October. Intransigent compassion-challenged bankers with WAY too much political influence are to blame, it is too easy to place all the blame on the new President!