ANyone else here see our president today talk about the subprime situation! what a bunch of crap! funny he's going to ask lenders and FHA to loosen guidelines for borrowers with good credit! ever seen someone facing foreclosure with a good score!
sorry i fell the president is just spouting crap to help wallstreet this is not any type of a salution!
lets see if you have good credit we can try to get you a better rate than a year or two ago!
ANyone else feel that our president has no real clue or just doesnt care
2007-08-31 07:52:18 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
For those who didnt get the fact that i wanted to know if anyone picked up on the president just giving lip service. sorry i voted for him but would love to see him replaced.
to the person who thinks borrowers got in over thier head they got where they are in most cases by being talked or fooled into crappy mortgages. by irresponsable brokers and L/O's most borrowers have little to no clue what a mortgage is about and the programs.
make no mistake my home is paid for!!!
the foreclosures people are facing is mostly due to greedy brokers and loan officers. and people forgeting that we should do what is best for the borrower. those brokers and banks that go under probably deserve it!
2007-08-31 12:08:44 · update #1
i understand noone shoud get bailed out! i just think its more than a bit ironic that the oil companies are doing so well and the bush's are oil people. i dont think there is a quick fix here. but i think the american public deserve more than.
the BS I listened to today. I heard no real answers just enough to hold up wallstreet
2007-08-31 12:14:23 · update #2
There are many with good credit scores who would be facing foreclosure due to the ARM adjustments.
Pontooner: I kind of agree with you..those with good credit scores should be looking ahead and doing the refi bit before the ARM hits them. But..how about the 'little old ladies' who are widows, living on a pension or estate and were'nt savvy enought to look ahead and who may be stuck with an ARM?
That's just one scenario, there are others.
2007-08-31 08:02:19 · answer #1 · answered by credo quia est absurdum 7 · 2⤊ 0⤋
I believe the President is looking out for our economy. Anybody with more than 2 cents in the bank should be thankful.
Is it lip service? No. He wants to do something to keep the industry from getting worse.
If this was simply just bailing out borrowers, then I wouldn't be on board.
Expect Congress to mess it up and add a bunch of pork before signing off on a useless bill.
2007-08-31 09:35:17 · answer #2 · answered by DallasLoanGuy 2 · 2⤊ 1⤋
This is where politics blurs for me. I have a good credit score and my house is bought and paid for because I made sure of it. The government didn't have a thing to do with it and nothing Bush or Clinton or Bush Sr or Reagan ever said or didn't say had a thing to do with it. I did it. Now forget politics and go do the right thing. Work hard and pay your own damn bills.
2007-08-31 08:03:58 · answer #3 · answered by butrcupps 6 · 5⤊ 1⤋
I agree with the sentiment of the above posts. It is not appropriate for the government to bail out those with mortgage problems.
What do you realistically expect? The federal government to pay your mortgage for you ... or to bring your payments current ... or to renegotiate your mortgage interest rate?
2007-08-31 08:23:50 · answer #4 · answered by CPA/PFS 2 · 3⤊ 1⤋
Joe U, if the people out there with good credit scores are not smart enough to refinance because their arm is adjusting up it's their own fault.
2007-08-31 08:11:29 · answer #5 · answered by pontooner 2 · 3⤊ 2⤋
So now our president has to bail out people who got iun over their heads
Hey, dude! Your credit problems are of your own making. Solve your own problems.
2007-08-31 08:03:06 · answer #6 · answered by TedEx 7 · 7⤊ 1⤋
since when is it the goverments job to bail out everyone who makes a dumb mistake. ittime people wake up and face the music if and when they make a dumb mistake.
2007-08-31 08:06:12 · answer #7 · answered by KEN K 2 · 3⤊ 1⤋
Just what do you think he should do?
He dose not set interest rates.
He dose not make mortgage loans
He dose not make foreclosures
Just What Do You Want Him To Do that he can do??
2007-08-31 08:01:45 · answer #8 · answered by Jan Luv 7 · 2⤊ 2⤋