2007-04-17 16:03:36 · 11 answers · asked by Anonymous in Politics & Government ➔ Government
Actually there is going to be a government buyout (it was in the Yahoo news earlier today). The sad thing is that it rewards those who took out (and underwrote) risky mortgages and will keep the prices artificially higher then they might be if the foreclosures were allowed to proceed. If you didn't get in on this round, it's going to be harder to get a house in the future. Basically taxpayers will be subsidizing the artificially high housing prices, which is really sad for those who are going to want to buy in the next few years.
And for those of you who don't like my post, read "Basic Economics" by Thomas Sowell and you will understand why this is a bad policy.
2007-04-17 16:08:41 · answer #1 · answered by Yo it's Me 7 · 2⤊ 2⤋
There is a bill being worked on in the House that would eliminate some of the more predatory types of loans that people have been getting into trouble with over the past few years, like interest-only loans and loans with big balloon payments after five or seven years.
I have heard rumors of a buy-out, but I hope they are false or that it doesn't pass. Government should not be using my tax dollars to bail out people who bought more house than they could afford.
2007-04-17 17:41:14 · answer #2 · answered by Chredon 5 · 0⤊ 0⤋
To bad we can't foreclose on Congress. They have done absolutely nothing but undermine our troops and the President since January!!
2007-04-17 16:11:58 · answer #3 · answered by Anonymous · 2⤊ 1⤋
Why would Congress get involved in it.
It is the buyers fault for buying something they can't afford to own. Congress can't cure stupidity.
2007-04-17 17:25:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋
NOTHING! What should they do? If you can't afford the mortgage, don't buy the house. How hard is that? If people get foreclosed on it's their own damn fault!
2007-04-17 16:13:41 · answer #5 · answered by Anonymous · 1⤊ 0⤋
People should not buy homes they cannot afford.
Why should congress do anything about it but stop the loan sharks.
2007-04-17 16:10:53 · answer #6 · answered by Anonymous · 4⤊ 0⤋
Why is it congresses responsability to pay our bills? " The question is not what our country can do for us; but what can we do for our country"? Maybe we should look at how we spend our money before we start telling the government how to spend its money.
2007-04-17 16:19:07 · answer #7 · answered by Cory C 3 · 0⤊ 0⤋
Nothing....people shouldn't buy more than they can afford and READ BEFORE they sign...
As a non-homeowning taxpayer....I'll be damned if I am picking up this tab.
2007-04-17 16:07:21 · answer #8 · answered by Anonymous · 4⤊ 0⤋
Nothing should be done, just like Auto repossessions
don't buy if you cant pay.
2007-04-17 16:10:36 · answer #9 · answered by Anonymous · 4⤊ 0⤋
I just don't understand. Every day, we're losing more of our freedom etc etc, but when we have problems, we want the govt to do something about it?????????
LOL!!!!!!!!!!!!!
2007-04-17 16:08:04 · answer #10 · answered by TedEx 7 · 5⤊ 0⤋