Are you willing to bash the the gov for a plan to bailout people who go out and buy homes that they can't afford?
2007-09-01 08:29:36 · 9 answers · asked by Anonymous in Politics & Government ➔ Politics
You bet i am and i am a Republican.I am sick of it.
2007-09-01 08:48:50 · answer #1 · answered by ♥ Mel 7 · 1⤊ 0⤋
Lil' Bush has only PURPOSED that mortgage companies TRY to find away to help homeowners remain in their over priced homes that they, the lenders, gave them loans on.
Now I know everyone is going to make out like this was HIS idea but it's not. Homeowners have been trying to get mortgage companies to work with them since this started. It appears the lenders are the ones that are being pig headed.
I mean, is it good business to foreclose on a property, kick the borrowers out and let the property set there empty, decreasing in value, while you try to sell it in a depressed market, instead of renegotiating the note to keep some money coming in until things hopefully start turning around.?
Does anyone think a lending institution would go bankrupt if they extended a variable interest note for 24 to 36 months at a rate lower than what it jumped to just when the bottom of the bucket let go. There's ways but they can't be seen because of greed.
2007-09-01 16:06:01 · answer #2 · answered by From Yours Trully 4 · 1⤊ 1⤋
I'm against any bailout, if the mortgage companies want to rework the mortgages that's fine. But the taxpayers of this country should not have to pay one dime to help these people.
If the people who got themselves in this situation had any common sense they would have known better than to try to buy a house they could not afford. I read a story the other day where the people earned less than $90,000 and were complaining that they could not afford the house that cost over $540,000. Anyone with any common sense would know that you can not afford to pay the mortgage on that amount with and adjustable rate. So whatever happens to them they brought it on themselves.
2007-09-01 18:37:27 · answer #3 · answered by Tater1966 3 · 1⤊ 0⤋
I think the bailout is a horrible idea. It saves people from having an responsibility for getting bad loans, or the company for giving them. I'm for welfare if the person needs it, and is working to get off of it, not live ON it...
2007-09-01 17:15:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
its not a bail out and yes I am against it, both the borrorer and the lender need to wrok things out. Too often the flexable rate sounds good so some refinance and get themselves into trouble. a high percentage of default loan borrowers never once called the lender and said I have a probelm lets work things out.
2007-09-01 16:00:48 · answer #5 · answered by Anonymous · 1⤊ 0⤋
I think the rational solution would be to have the lenders change the loans to 40 yr fixed rates and keep people in their homes.
2007-09-01 15:53:46 · answer #6 · answered by Anonymous · 1⤊ 0⤋
There is no bailout planned. Wait and see what the President suggests before getting on your high horse. He is anticipating refinancing about 80,000 homeowners, and only those with equity in their homes.
2007-09-01 15:36:14 · answer #7 · answered by regerugged 7 · 2⤊ 2⤋
Bad policy is bad policy regardless of who supports it.
2007-09-01 16:09:59 · answer #8 · answered by distill80 3 · 1⤊ 0⤋
yes,if they are that stupid they lose! the government needs to stay out of our business!!
2007-09-01 15:57:27 · answer #9 · answered by Dr.NO 3 · 1⤊ 0⤋