How low will the housing market go now the Pres is bailing everyone out?

Question

Will it go any lower? Is it going to jump again, so some idiot can sell me their house while he paid very little for it and didn't do crap to it? Why are we even bailing these dumbasses out? READ THE FINE PRINT you jackasses!

The goverment is helping, no matter what you say! Don't bail out the stupid homeowners that are in over their head!

Answer 1

All the government did was get involved in private business by suggesting that the lenders not adjust the rates of adjustable rate mortgages for up to five years. It is a non-binding agreement (which means the lenders don't have to do it if they don't want to). No federal money (no taxpayer money) will be paid to the lenders or to the homeowners.

It just delays the issue by a few years. It is a toothless agreement that won't help everyone in that situation.

I think you should have read the fine print!!

Answer 2

You are clueless concerning the recent decision to assist folks in avoiding foreclosure. We are not 'bailing them out'. The agreement is between borrowers and their lenders to freeze ARM rates for five years until the housing market settles out.

If you would put your mouth in PARK and your brain in DRIVE, you would also realize that this agreement benefits the lenders as well as the borrowers. While the lenders get less interest, that is FAR desirable and less costly than would be foreclosing on all these properties.

Answer 3

First of all , your info is incorrect. The Feds refuse to bail out the lenders. They have given guidelines to the lenders to follow, and if the people do not qualify the lender will foreclose. The pres. is forcing lenders to deal with this fiasco, and given them a chance to qualify for an F.H.A. loan. So please read all the print before you make false statements.