Oh, well we all kinda knew this was coming. Let the idiots stay where they should have never been in the first place. Anyway, the issues is just prolonged and not removed of course. http://www.marketwatch.com/news/sto...x?guid={C902728D-B242-446D-9956-573138163FB2}
Its not that I want people to suffer but then again why bother having a market at all, why don't we all just adopt a communist style economy and let the state shield us from any pain. Support and Vote for Ron Paul before it is too late for those of us in this country who still believe in a market economy.
And I thought I was doing the smart thing locking in for 30 years at a rate a point or two higher than the ARMs! Guess I was doing the dumb thing. Maybe I should see if my loan company will give me the difference back and re-rate the remaining years! In fact I think I'll call them right now... that is if I can figure out who owns it this week! :eek:
Its amazing how this system shits on responsible people. We are trying to gurantee prosperity through monetary policy.
Because in order to be elected and be popular you have to appeal to the unwashed and ignorant.... By definition the responsible people are the minority, so no one cares about us...we are there for the GUMMINT to take money from and give to their prospective voters.
A lot of this is just hype and meant to boster confidence. I don't think it will help many people. I say this because that I believe in order to get relief you have to qualify for the loan, have good credit, and have a decent LTV ratio. I don't think they will do no doc stuff either unless you have a low LTV and great credit. Problem is that most of the people in trouble won't be able to qualify for the relief beause of credit or income or LTV issues. Its just BS to make people feel good. John
Don't be fooled by the altruistic gestures. If there were no "BIG" idiots in trouble, the little idots would not have been rescued.