“If a form of home equity protection previously existed, the initial housing market problems would never have cycled into the full blown and continuing crisis. We can now create that protection to bring stability to this crisis and prevent future ones.”
Sam Payrovi, CEO & Founder, ProtEquity Group
“With these kinds of inefficient solutions, and with prices continuing their downward slide, more borrowers are simply choosing to walk away from their homes. Millions of homeowners are underwater, deeply underwater on their house and with any increase in expenses they are stepping away from their home.”
Mark Zandi, Chief Economist, Moody’s Economy.com (Jan 2009)
“Because until the biggest part of the housing correction is behind us, we’re going to continue to have turmoil in our capital markets. And I think the housing correction is really at the heart of our economic problems as a nation right now.”
Henry Paulson, Secretary, U.S. Treasury (Sep 2008)
“And indeed, (the financial crisis) will continue to be a corrosive force until the price of homes in the United States stabilizes.”
Alan Greenspan, former Chairman, U.S. Federal Reserve (Sep 2008)
“So I think really stabilizing the housing market is the key. And once we get that stabilized I think other things will fall into place and we will see the light at the end of the tunnel.”
Sheila Bair, Chairwoman, FDIC (Jul 2008)