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Thread: Help for homeowners

  1. #1
    Nubbs
    http://www.msnbc.msn.com/id/20524454/
    What on earth is going one here? Is it the governments job to bail out people who were stupid enough to buy houses under terms they can no longer meet? I think this is pure BS. Anybody else with me?

  2. #2
    YeLLowBoaT
    I agree, I feel the same out the Morage industry... they did it to themselfs...

  3. #3
    LhcBrad
    It looks like its time for me to buy how could i go wrong if i cant afford it the government will bail me out. It just does not pay to be smart any longer.
    http://www.icantsellmyhouse.blogspot.com/

  4. #4
    PaPaG
    never fails, make bad investments and the Gov will use our hard earned money and tax us to death to bail them out....

  5. #5
    BEER&WATER
    to littel to late

  6. #6
    BEER&WATER
    what would happen if everyone stoped paying the house payment ???? .that would put all things in order real quick

  7. #7
    Partycattin
    Maybe I'll go out and buy a Ferrari that I know I can't afford, or maybe borrow money to start a business that probably won't be successful. If the gov't is going to bail everyone out when they take a risk and that risk fails, then no more risk right?
    This is bogus. People either took an investment risk which may fail or they got in over their heads. Either way, the rest of us shouldn't have to bail them out.
    I think the Mortgage companies need to find some creative ways to re-write some of these loans to make it a win-win. Even if the homeowner has to take on a 40-50 year mortgage for a while, they would be able to make the payment and keep the house until their financial status changes or they sell the place and find something they can afford.

  8. #8
    YeLLowBoaT
    Maybe I'll go out and buy a Ferrari that I know I can't afford, or maybe borrow money to start a business that probably won't be successful. If the gov't is going to bail everyone out when they take a risk and that risk fails, then no more risk right?
    This is bogus. People either took an investment risk which may fail or they got in over their heads. Either way, the rest of us shouldn't have to bail them out.
    I think the Mortgage companies need to find some creative ways to re-write some of these loans to make it a win-win. Even if the homeowner has to take on a 40-50 year mortgage for a while, they would be able to make the payment and keep the house until their financial status changes or they sell the place and find something they can afford.
    even a 40 or 50 year note will not help... there is very little diffrence in your payments...
    example... a 30 year at 6% for 300k is just under 1800. For 40years its 1650 for 50 its 1600. at 8% ( which alot of people are now facing do to the ARM comeing to term) 30 years is 2200, 40 years is 2100 and 50 years is 2050.
    The good new is they are talking about droping the rate another .5% next month. The bad news is alot of the "whole sale debt"( of which there are tons) buyers are not going to drop thier rates unless they are forced to( IE goverment steps in)

  9. #9
    speedneeder
    Maybe Bush is over reacting. From what I've been told we are merely having a minor pricing "correction". I know I've read that here over and over.

  10. #10
    NoWorries
    I have to agree with everyone here, I do not think the gov needs to interfere in this situation, this coming from a guy who makes a living selling real estate.:idea: However at the end of the day we live in a capitalistic free market society in which the consumer drives the market up and down. I am not even going to try and get into an economic discussion because someone on here knows way more about it then I do. The lending (real estate) market is cyclical and will right itself like it has done in the past. In the meantime there are some great freaking deals out there from land to commercial and everything in between if you can get qualified

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