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Really not all are ignoring anything. I just want answers to the issues facing this country. I agree it needs to change and America needs to put America first, but I want to know HOW this is going to happen...
The OP put up a good point, now instead of pointing fingers, try writing how you feel about the topic of the post.
How about all of the Republicans who also just ignore the obvious? Only independent voters seem to care about the real issues facing this country.
Could you start your own thread about the "real issues" Until then, this thread is about Biden wanting me to pay for someone elses principle balance on their mortgage because they bought more then they could afford. Try to stay on topic...
Odd that no one wants to defend this action and they would rather attack the poster..
biden is flat out wrong on lowering the principal. i can possibly see eliminating the higher interest rates because the banks manipulated some people (after all they are in the business of finance) but lowering the principal makes every other american pay for a few mistakes. it is similar to if one person shoplifts everybody else has to pay more for their goods.
I do agree with you, except that I really don't feel sorry for people with the high interest rates because they did it to themselves. if they can't read and/or understand a contract then they have no business signing one. They got themselves into the mess and it should not be up to anyone else to get them out of it.
Could you start your own thread about the "real issues" Until then, this thread is about Biden wanting me to pay for someone elses principle balance on their mortgage because they bought more then they could afford. Try to stay on topic...
Odd that no one wants to defend this action and they would rather attack the poster..
I didn't attack you at all. I stated the obvious and that seems to upset you. I have replied and you only seem to want to argue about what you didn't post about.
First off, he said he wanted to see the Bankruptcy courts gain the ability to lower the interest or principal owed on a loan for those who are filing and can not pay. I seriously doubt that would ever be granted, but if it was, it's not the end of the world. If a home owner can pay 100K of 190k back then the bank can take the difference as a tax write off. If the home owners just walk away then the bank has a higher probability of failing. Something is better than nothing don't you think?
We already have this in place for credit cards. A person charges their cards up and files for bankruptcy and those balances are charged off by the companies.
Ok, Biden wants to lower principle values for people who cant afford their mortgages. This means that those who do pay thier mortgages will have higher fees, and higher interest rate to pay for those who bought more then they could afford.. Why do people think this is ok?
First of all, it will never happen. But it gives him something to say between attacks on McCain that helps to draw attention away from the fact that they can't pay for this and it doesn't make any sense. Wouldn't want to be asked any serious questions about anything, ya know?
First off, he said he wanted to see the Bankruptcy courts gain the ability to lower the interest or principal owed on a loan for those who are filing and can not pay. I seriously doubt that would ever be granted, but if it was, it's not the end of the world. If a home owner can pay 100K of 190k back then the bank can take the difference as a tax write off. If the home owners just walk away then the bank has a higher probability of failing. Something is better than nothing don't you think?
We already have this in place for credit cards. A person charges their cards up and files for bankruptcy and those balances are charged off by the companies.
There is a big difference between a mortgage and credit cards.
I think something needs to be done, but not lowering things for people that shouldn't have had them to begin with and costing the rest of us money, is not the answer.
Last edited by Jerseyt719; 10-03-2008 at 06:04 AM..
Reason: grammar
First off, he said he wanted to see the Bankruptcy courts gain the ability to lower the interest or principal owed on a loan for those who are filing and can not pay. I seriously doubt that would ever be granted, but if it was, it's not the end of the world. If a home owner can pay 100K of 190k back then the bank can take the difference as a tax write off. If the home owners just walk away then the bank has a higher probability of failing. Something is better than nothing don't you think?
We already have this in place for credit cards. A person charges their cards up and files for bankruptcy and those balances are charged off by the companies.
Apparently you don't understand the new bankruptcy laws. Not all credit cards are written off these days. They were under the OLD bankruptcy laws. These days, most people have to pay at least a portion of them back, depending on one's true ability to pay.
No, I don't think something is better than nothing. I don't like anyone being helped out of their morgtage crisis. I paid mine on time and knew what I ws getting into when I signed on the dotted line and I expect others to "man up" and accept their damn responsibilities. otherwise, the damn banks, or whoever made the loan, can just lose their butts.
There is a big difference between a mortgage and credit cards.
I think something needs to be done, but not lowering things for people that shouldn't have had them to begin with and costing the rest of us money is the answer.
The principal is the same. It's going to cost us regardless but I really don't see his idea becoming a reality.
The principal is the same. It's going to cost us regardless but I really don't see his idea becoming a reality.
I hope that you are right but if we end up with a Democratic Congress, more than possible, and a Democratic president, Obama, then it could actually happen.
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