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My question is, when these borrower's loan "readjust" to lower loan values... what is their interest going to "readjust" to... would the responsible homeowner with 6% interest rate and GREAT credit scores have a higher interest rate than a subprime borrower? How is that fair?
My question is, when these borrower's loan "readjust" to lower loan values... what is their interest going to "readjust" to... would the responsible homeowner with 6% interest rate and GREAT credit scores have a higher interest rate than a subprime borrower? How is that fair?
Everyone is hurt by economic chaos. Everyone is helped when some aspect of it is ameliorated. It's amazing how blindly and how completely self-centered the views of some can be...
Everyone is hurt by economic chaos. Everyone is helped when some aspect of it is ameliorated. It's amazing how blindly and how completely self-centered the views of some can be...
Please. I saved for years and years to amass the down payment before I bought a house. It was something I earned, not something I was entitled to. But since I am self-centered, feel free to come over here and help me with attic renovation and insulation. Perhaps you would foot the bill?
if I meet one person who benefits from this, I am going to demand their wallet.
If YOU have a house, it's likely that YOU'LL benefit because if all those homeowners in trouble dump their houses more or less all at once, then YOUR equilty falls - and may remain down for a very long time.
Furthermore, if the housing market collapses any more it MAY take the economy down with it, so if YOU have a job, then YOU will probably benefit since it lessens the chance of a major economic drop and the possible loss of jobs that goes with it.
Finally, if YOU have stocks, a 401K or company pension with funds invested in the Stock Market, then YOU will benefit because as the housing collapse brings down the banking institutions stocks fall and so will YOUR investments.
So, you better ask for your own wallet.
At least that the idea behind the bailout.
It's a NASTY situation brought on by a whole number of transgressions - some on the part of unthinking homeowners, some on the part of greedy and unscrupulous lenders and some on the part of those in government who's job it was to oversee the industry to see that these kinds of messes don't happen. Unfortunately, the problem has grown so large that it's threatening to take ALL of us down with it.
Not happy with the bailout, but very worried about the massive economic damage the situation could do without it.
oh trust me, I won't benefit because I own my houses for more than 15 minutes and I didn't overpay.
Quote:
Originally Posted by LordBalfor
If YOU have a house, it's likely that YOU'LL benefit because if all those homeowners in trouble dump their houses more or less all at once, then YOUR equilty falls - and may remain down for a very long time.
Furthermore, if the housing market collapses any more it MAY take the economy down with it, so if YOU have a job, then YOU will probably benefit since it lessens the chance of a major economic drop and the possible loss of jobs that goes with it.
Finally, if YOU have stocks, a 401K or company pension with funds invested in the Stock Market, then YOU will benefit because as the housing collapse brings down the banking institutions stocks fall and so will YOUR investments.
So, you better ask for your own wallet.
At least that the idea behind the bailout.
It's a NASTY situation brought on by a whole number of transgressions - some on the part of unthinking homeowners, some on the part of greedy and unscrupulous lenders and some on the part of those in government who's job it was to oversee the industry to see that these kinds of messes don't happen. Unfortunately, the problem has grown so large that it's threatening to take ALL of us down with it.
Not happy with the bailout, but very worried about the massive economic damage the situation could do without it.
Ken
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