Homeowners who modified loans are in trouble again

Discussion in 'Wall St. News' started by TGregg, Dec 8, 2008.

  1. TGregg

    TGregg

    Government intervention failing?

    http://news.yahoo.com/s/ap/20081208/ap_on_bi_ge/financial_meltdown
     
  2. Lucrum

    Lucrum

    Doesn't it always?
     
  3. This can't last.
     
  4. tradersboredom

    tradersboredom Guest

  5. TGregg

    TGregg

    But it worked so well getting rid of poverty. And drugs.
     
  6. Wasn't this totally predictable?
     
  7. MattF

    MattF

    like turning a 30-year into a 40-year with slightly lesser monthly payments would do much...

    if you can't afford it before...what's to say you'll afford it now? Or for that matter, some people just don't have the money management skills needed to own a house...
     
  8. "They" can't let the free market work and let those who are broke take some pain because "they" are broke themselves.:p
     
  9. Do what japan did and bring on the 100 or 120 year mortgages.
     
  10. from the article:
    New data released Monday show that more than half of all homeowners who had their loans modified to make the payments more affordable in the first half of the year are already in default again.



    this is EXACTLY what i said would happen. deadbeats are deadbeats for a reason: they have shown a repeated tendency over time to mismanage money. no bandage fix will change that. these people should not be given credit in the first place.

    way to go, let's keep wasting taxpayer money to project an image of government helping the unlucky people who were obviously taken advantaged of. yeah right!
     
    #10     Dec 8, 2008