Ben Bernanke Quotes

It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.

Well, actually, if you can stay in your home that is a better deal for the neighborhood. It's certainly a better deal for the person that is in their home, rather than to be on the street and for that house to go into foreclosure and become a problem for the whole community.

I think the millions of people who had been able to renegotiate their mortgages so they are paying lower interest rates are better off.

Bankrupsy stays on your record for 7-10yrs. That gives you an idea how long it takes to rebuild trust.

Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable.

I'm telling you that there is no silver bullet to keep home prices from going down or to prevent all foreclosures.

Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.

A person's credit report is one of the most important tools consumers can use to maintain their financial security and credit rating, but for so long many did not know how to obtain one, or what to do with the information it provided.

Every day there are homeowners in California who will either receive relief so they can stay in their home, or will be in the foreclosure process and potentially lose their home. And that always weighed heavily on my mind.

Owning a home is a keystone of wealth - both financial affluence and emotional security.

Nationally, the share of mortgages that are underwater fell by about one-half between 2011 and 2014.

You don't need credit.

Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.

Whether you're earning $7 an hour or $700,000 a year, it's very important to protect your credit rating.

It is time to move on. House prices won't rise and the economy won't fully engage until more distressed properties are resolved and put back into ordinary use.

We don't have to guess what Mitt Romney would have done if he were president. Because he told us. He said we should let foreclosures - and I quote - 'hit the bottom' so the market could - I quote - 'run its course.'

The American dream is still to own your home.

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.

Our economy isn't going to recover until the housing market finds its footing.

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

When I began to make some money, I really wanted to have a home.

The first thing I did when my career started moving was to buy a small house.

Everybody aspires to an affordable home, a secure job, better living standards, reliable healthcare and a decent pension. My generation took those things for granted, and so should future generations.

I learned early on what debt means, how vulnerable it makes people, what the security of owning a home means.

If you live in a good neighborhood, you drive home and there's a bank. There's grocery stores and big houses - but no motels. What that tells you psychologically is you protect your money and buy good things for your family to eat in your nice big house.