What about those who are able to pay their morgage?

burniegoeasily · 11-13-2008, 01:38 PM

I saw an interview with a man this morning as I was getting ready for work. He was stating that he went to his loan agent and asked what kind of assistance he could get to help him with his morgage loan. He was told, you have a perfect record so we cannot help. It got me thinking, is this bail out of bad loans fair???? What do you think.

MikeVT · 11-13-2008, 01:52 PM

All those who can pay their mortgages will have their taxes go up to pay for those who cannot. Just business as usual for the tax and spend crowd.

Griswold · 11-13-2008, 01:54 PM

Well hell no it's not fair. But there's very little about our "social programs" (relax, Demmies, I didn't say socialISM) here in America that is fair.

BigOrangeBowHntr · 11-13-2008, 02:03 PM

A buddy of mine's dad had a pretty good take on this bailout thing. Figure up how many households there are in the U.S. that paid taxes last year give them x amount of dollars whether it be 100,000 or 50,000 let them pay off their mortgages which will infuse money into the banks and free up those moneys for otherthings whether it investin or what have you. I thought this seemed like a fair idea but nobody cares about those of who pay our bills!

ranger56528 · 11-13-2008, 02:07 PM

And what about folks like me who took responsibilty and payed off our morgage early,how fair is that,we just get slaped in the face and forced to help pay off thos the took to big of a bite and now they are choking...

mudhead1s wife · 11-13-2008, 02:27 PM

Of course it's not fair and it never will be. Lucky for Josh and I we went with a 30 year fixed because we didn't want the risk of the house not selling.

So just to help me out here, I have a 30 year fixed rate with the option of refinancing, home equity, and debt consolidation.
Say I decided to go with a 5 yr. arm, and my house didn't sell and I couldn't pay the payments wouldn't I still have the option to refinance to a fixed rate? Never mind I just realized they were buying homes they couldn't possibly afford. THAT IT MY BIGGEST PROBLEM WITH THIS WHOLE BAIL OUT.

F3d · 11-13-2008, 02:28 PM

Life isn't fair.

burniegoeasily · 11-13-2008, 02:32 PM

Quote:

ORIGINAL: mudhead1s wife

Of course it's not fair and it never will be. Lucky for Josh and I we went with a 30 year fixed because we didn't want the risk of the house not selling.

So just to help me out here, I have a 30 year fixed rate with the option of refinancing, home equity, and debt consolidation.
Say I decided to go with a 5 yr. arm, and my house didn't sell and I couldn't pay the payments wouldn't I still have the option to refinance to a fixed rate? Never mind I just realized they were buying homes they couldn't possibly afford. THAT IT MY BIGGEST PROBLEM WITH THIS WHOLE BAIL OUT.

I was offered a subprime loan on our last house. I did just as you two did, I went with a fixed 30 year. That way I knew exactly what Ill be paying and knew I would be able to pay it. It really didnt take too much reading. Actually it was all spelled out to us by our loan agent.

mudhead1s wife · 11-13-2008, 02:34 PM

Quote:

ORIGINAL: F3d

Life isn't fair.

Yep, my dad did me a great service to teach me that.
My mom helped in showing me all the ways it isn't.
I've been learning that lesson since I was about 8 or 9.
But I have a choice either I can stoop to their level and live off of everyone else because for some reason I am entitled or I can strive to be the best person I can and be responsible for my actions.

Doe Dumper · 11-13-2008, 04:35 PM

Thank God for fixed rates! I wonder how many out there were either not told about what the rate on theARM would do...or if they just didnt care??