Mortgage Bailout Plan
Well, I thought I left socialism when I came back from China. However, the latest mortgage bailout plan seems to be a part of what socialist countries do, big brother intervening in the free market.On the one hand, no one wants to see houses being foreclosed but on the other investors who put money and risk on these mortgages deserve what they were promised. The mortgage/note is a contract between parties w/ terms attached and both parties willingly agreed to the terms. Now, when it's time to collect, one party cries foul even though there was none and the govt steps in and said you're not allow to collect. I can understand if this action came from a diff political party but not from this admin.
posted by Mercy Now @ 7:51 PM
2 Comments:
Oh, come on, everyone knows big broth...um..the government is supposed to step in and save you from everything. That's why they are there, to fix all of your problem without all that messy personal responsibility. Besides the money for all that stuff only comes from those greedy rich white guys that are evil anyways, its not my money. Oh, wait, yes it is.
what sucks: these teaser rate loans are the reason housing prices in the OC sky rocketed.
as home prices rose, forcing responsibile people out of the market, rents also rose to match.
i am a renter because i wouldnt accept the teaser rate loans.
now, these folks get to keep their overpriced house, and i get to continue to stay in overpriced rentals.
if more homes forclose, the prices will come down enough to where i can buy one honestly. looks like it aint gonna happen.
in the end... the responsible folks get screwed.
for reference: my two bedroon rents for 1550/month.
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