Gaming the mortgage bailout plan

Discussion in 'Economics' started by a529612, Dec 8, 2007.

  1. Daal

    Daal

    i bet this is going to be major news in a few weeks
     
  2. Banjo

    Banjo

  3. Daal

    Daal

    they are providing support to people who lied and mislead on their applications now if they dont qualify they will almost certainly do this again
     
  4. haha this is what i said the day the bailout was announced. some people will intentionally try to reduce their fico to qualify.

    you can count on it. these deadbeats are exactly the type of people to commit fraud. i've dealt with plenty of people with "credit problems", you cannot trust any of them.
     
  5. Why should they change? The system continues to support them. All the while, all of us with good fiscal responsibility are punished.
     
  6. 2ez

    2ez

    Please correct me if I am wrong...


    Interest Rates will not reset.....but the principal on negative amortized mortgages will still grow ? This will only create more of a mess 5yrs down the road.


    Moreover, the home values will have to increase more than the terms of the mortgage or else lenders will be left with unsecured debt, since home values will be less than the amounts owed.
     
  7. You got it. We financially responsible citizens are the "source of funds" for all of the Powers' criminal greed.