I just read a story that late payments and forclosures are going up and the president is being asked what to do about it...why is it his problem? If you were dumb enough to sign an ARM, you deal with it! I'm sick of charity, i work my *** off to pay my bills while other people sit around and have gov't $$ handed to them. F that!
2007-08-31 03:40:26 · 10 answers · asked by chrisoaks23 3 in Politics & Government ➔ Government
dude, it pisses me off too. since you and i are in front of our computers, we need to send a note to our reps n congress and the pres himself. google the US Senate and teh white house and hit the contact button, it goes right to their emails. i've done it countless times. have a good day, i enjoyed your vent.
2007-08-31 03:56:38 · answer #1 · answered by 27ysq 4 · 0⤊ 0⤋
I think that some people are worried about what the failed loans will do to the economy. Of course, if the government bails everyone out, the government will need to come up with more money. It will raise taxes, borrow it, or cut its spending. I see the first two as the big possibilities. Neither of those are too great for the economy either.
What needs to happen is more crack down on some of the lenders who were giving loans to any person who walked off of the street. There were lenders giving loans to people without ever checking any of their story. A no document loan. You could say that you earn a certain amount and they would just take your word. No tax returns, no pay slips, nothing to back that up. The greedy lenders were the ones who started all of this mess.
There were some people who were tricked into an ARM by the lenders. On one hand I feel sorry for those and on the other hand I am kind of irritated that they did not do their homework before jumping into the whole thing. I am planning on buying a home. I started a year ago. In that time I have been saving for a down payment and reading as much as I can about mortgages and house buying.
2007-08-31 10:50:25 · answer #2 · answered by A.Mercer 7 · 0⤊ 0⤋
You're right 100%. But, its a problem thats escalating and if the president deosn't do something about it, the country may go to bankruptcy itself. Look at the stock market. It's been crazy, this is an emergency
2007-08-31 10:47:09 · answer #3 · answered by Con4Life 3 · 0⤊ 0⤋
For the same reason the companies who profited from the mortgages now want the government to bail them out.
2007-08-31 10:46:00 · answer #4 · answered by rec 3 · 3⤊ 0⤋
Home buyers, home sellers, realtors, mortgage lenders all get greedy when there's the possibility of a sale. Everyone wants to get maximum bang for their bucks.
2007-08-31 10:46:19 · answer #5 · answered by regerugged 7 · 1⤊ 0⤋
Bush isn't doing this to help the mortgage holders; he's doing this to help his rich banking buddies who face treacherous times if millions of peoples' homes end up in foreclosure. -RKO- 08/31/07
2007-08-31 11:34:20 · answer #6 · answered by -RKO- 7 · 0⤊ 0⤋
The government shouldn't be bailing out the Loan companies either, huh?
2007-08-31 10:47:52 · answer #7 · answered by ? 6 · 0⤊ 0⤋
If someone is stupid enough to over extend your finances,why is that my problem? We work hard for our $ too. Quit charging up the credit cards,and live within your means. We do.
2007-08-31 11:07:49 · answer #8 · answered by ? 5 · 1⤊ 0⤋
People are not too swift...My wife worked for a doctor who bought a house he couldn't afford because the realtor told him he was a doctor so he "should be" able to afford it.
2007-08-31 10:46:05 · answer #9 · answered by Anonymous · 3⤊ 0⤋
Welcome to America
2007-08-31 10:47:43 · answer #10 · answered by Bob D 6 · 0⤊ 0⤋