So..... we are going to end up paying for people to get their house notes lowered. I think this is wrong on so many levels. The first being the simple fact tha I have my own house note to pay and I do it no matter what it takes. Also, When this happens how are they going to be sure the people blessed with this will not end up still not affording it or leaving anyway. Wasting my money is not what we have govt for, though they do it so well.
I watch HGTV house shows all the time. Some of the ways people get financing I didn't even know existed. How about the interest only house financing? Who in their right mind would want to do that? You buy a house to live in and hope that it appreciates into a great investment if you need to sell it. Why would you get a loan where you pay no principal? These people get firsts and seconds and all kind of crazy loans to get into a house. What happened to a fixed 30 yr.mortgage?
Answer by EireLass at 11:15 AM on Mar. 4, 2009
Answer by Anonymous at 11:16 AM on Mar. 4, 2009
Answer by akinbottom2 at 11:19 AM on Mar. 4, 2009
Answer by sweet-a-kins at 11:21 AM on Mar. 4, 2009
Answer by heatherama at 11:31 AM on Mar. 4, 2009
Answer by grlygrlz2 at 11:36 AM on Mar. 4, 2009
Answer by grlygrlz2 at 11:37 AM on Mar. 4, 2009
Answer by heatherama at 11:41 AM on Mar. 4, 2009
find your local predatory lender, and tell him what you think No one held a gun to these peoples head and made them take the loan. Banks should have been more responsible but laws put in place by Democrats allowed groups like Acorn to strong arm banks to give loans to those who did not qualify. The banks saw the money they were making and ran with it but you can than Acorn for the problem too. The people who took the money are more at fault they knew their interest would go up. They were greedy and wanted something they knew they could not afford. They could have walked away and continued to rent like 30 percent of the country does. Home ownership is for those who can afford it. It is not a right. I say let them lose their houses over half will re default they have been so far. They do not need to be bailed out. They need a money management class.
Answer by Anonymous at 11:44 AM on Mar. 4, 2009
Answer by itsmesteph11 at 11:58 AM on Mar. 4, 2009