Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-23-2008, 09:13 AM
 
20,187 posts, read 23,761,184 times
Reputation: 9283

Advertisements

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?

Bush green-lights housing bill - Jul. 23, 2008
Reply With Quote Quick reply to this message

 
Old 07-23-2008, 09:15 AM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 7,388,119 times
Reputation: 882
It definitely isn't. But then bailouts and handouts to people who get themselves into trouble seldom are fair to the rest of us.

The worst part is the responsible ones pay for the handouts, which adds insult to injury.
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 09:17 AM
 
3,859 posts, read 10,293,583 times
Reputation: 2751
Quote:
Originally Posted by bbkaren View Post
It definitely isn't. But then bailouts and handouts to people who get themselves into trouble seldom are fair to the rest of us.

The worst part is the responsible ones pay for the handouts, which adds insult to injury.


Absolutely. Once again those who are responsible and hard working end up paying for those who are not. When will it ever end?
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 09:22 AM
 
Location: Washington, DC
540 posts, read 960,192 times
Reputation: 83
Quote:
Originally Posted by evilnewbie View Post
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?

Bush green-lights housing bill - Jul. 23, 2008
They'll be paying for that help when they eventually sell their home and the government gets part of the profits.
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 09:22 AM
 
Location: Texas
5,004 posts, read 7,844,548 times
Reputation: 5695
Bipartisan Corporatism/socialism. yay!!!

Dollar be damned. We've got access to trillions of them. Fire the printing press boys.
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 09:40 AM
 
19,198 posts, read 31,387,388 times
Reputation: 4013
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...
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 09:49 AM
 
13,624 posts, read 20,677,487 times
Reputation: 7629
Quote:
Originally Posted by saganista View Post
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?
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 12:36 PM
 
Location: Wilmington, NC
8,577 posts, read 7,804,147 times
Reputation: 835
if I meet one person who benefits from this, I am going to demand their wallet.
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 12:57 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,235,645 times
Reputation: 7621
Quote:
Originally Posted by jmarquise View Post
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.

Ken
Reply With Quote Quick reply to this message
 
Old 07-23-2008, 01:01 PM
 
Location: Wilmington, NC
8,577 posts, read 7,804,147 times
Reputation: 835
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 View Post
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
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top