Congress wants you to bailout sub-prime mortgages!

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rt4768

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Are you tired of the government bailing out banks and investment firms with tax payer dollars?

Do you think congress should use taxpayer dollars to bail out sub-prime mortgage homebuyers? If not then go to the link below and tell congress how you really feel! At the least it's fun reading!

http://www.angryrenter.com/view_all.php
 

af5rn

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Ya know, I'm not sure it's an easy, cut and dried question. I mean, I'm a serious fiscal conservative and think that people should be ready to accept the consequences of their irresponsible actions and poor choices. But, on the other hand, if we let them fail, what are the financial repercussions for the taxpayers? Could all the other assistance we end up giving displaced homeowners end up costing us as much or more than bailing them out would have?

It's easy to say you will just stand on principle, one way or the other, but the better and harder solution would be to do a cost vs. benefit analysis and make the logical choice instead of the knee-jerk choice. I only wish I knew what that choice was.
 

bonus1331

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Hogansville, Ga
af5rn said:
Ya know, I'm not sure it's an easy, cut and dried question. I mean, I'm a serious fiscal conservative and think that people should be ready to accept the consequences of their irresponsible actions and poor choices. But, on the other hand, if we let them fail, what are the financial repercussions for the taxpayers? Could all the other assistance we end up giving displaced homeowners end up costing us as much or more than bailing them out would have?

It's easy to say you will just stand on principle, one way or the other, but the better and harder solution would be to do a cost vs. benefit analysis and make the logical choice instead of the knee-jerk choice. I only wish I knew what that choice was.
Good points. As your neighbor defaults on their mortgage and the property begins to go to pot, so does your property value.
Lucky here in Charlotte, with last known numbers from February actaully showing us as only 2 of 25 cities with slight appreciation in value.
However, blight is beginning to affect many cities with un-occupied housing.
 

iMONITOR

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Many of the problems with sub-prime mortgages today were caused by fraud, and stupidity, on the behalf of the mortgage companies, and the home owners.

I think there should be serious criminal charges brought against any mortgage companies, and home buyers, who knowingly entered into the contract under false pretenses and misinformation.
 

hoser147

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GreatLakes said:
Many of the problems with sub-prime mortgages today were caused by fraud, and stupidity, on the behalf of the mortgage companies, and the home owners.

I think there should be serious criminal charges brought against any mortgage companies, and home buyers, who knowingly entered into the contract under false pretenses and misinformation.
I agree Great Lakes go after the one's that did the shady loans, most knowingly done the deed anyhow. They hold long A$$ hearings on MLB and all kinds of crap that should be done by the league adm. When this should have been under the eye of the government from the beginning. Hoser
 

af5rn

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hoser147 said:
They hold long A$$ hearings on MLB and all kinds of crap that should be done by the league adm. When this should have been under the eye of the government from the beginning.
Another epic FAILURE of the Klinton administration.
 
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