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this is absolutely pathetic. I sincerely hope that everyone who benefits from this has their credit totally ruined. they should have to sign something that says that their credit will be in limbo for 7 years, just like a bankruptcy.
If they lower the value of the loan that will cause a ripple effect to the neighborhood and the county. I think this is bad news..what happens to the neighbor who has a high mortgage and IS paying every month ?
Bad idea, I'm not sure what the benefit of this is to the majority of Americans. This whole housing mess will figure itself out, because folks like myself who didn't buy at the height of the housing bubble can now afford the price of a house and we can buy the houses that our now being forclosed on because others wanted their 3/2 right then and now they can't pay for it. Sorry, this is one of those life lessons that people must be held accountable for, no bailout.
How can anyone think any part of that is right?? People bought homes that they should not have been able to qualify and now that they are (predictibly) losing them the government is supposed to bail them out??? So wrong on so many levels.
we need to stop rewarding people for screwing up. we need to start punishing them. instead of lowering the amount of the loan, how about they increase the length of the loan to make the monthly payments affordable. I am so sick of the worthless people in this country.
We in this day & age have great difficulty letting things run their course & dealing with reality. I dont want one red cent of my tax money bailing out anybody. When I want to give to charity I do so.
most people realize this. it's the liberals who rent who agree with this decision.
Quote:
Originally Posted by Tin Knocker
We in this day & age have great difficulty letting things run their course & dealing with reality. I dont want one red cent of my tax money bailing out anybody. When I want to give to charity I do so.
Bush has said he will veto it. Just absolutely outrageous.
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