Pres BUSH give borrowers facing foreclosure lip service?
Question:
sorry i fell the president is just spouting crap to help wallstreet this is not any type of a salution!
lets see if you have good credit we can try to get you a better rate than a year or two ago!
ANyone else feel that our president has no real clue or just doesnt care
Just what do you think he should do?
He dose not set interest rates.
He dose not make mortgage loans
He dose not make foreclosures
Just What Do You Want Him To Do that he can do??
There are many with good credit scores who would be facing foreclosure due to the ARM adjustments.
Pontooner: I kind of agree with you..those with good credit scores should be looking ahead and doing the refi bit before the ARM hits them. But..how about the 'little old ladies' who are widows, living on a pension or estate and were'nt savvy enought to look ahead and who may be stuck with an ARM?
That's just one scenario, there are others.
So now our president has to bail out people who got iun over their heads
Hey, dude! Your credit problems are of your own making. Solve your own problems.
This is where politics blurs for me. I have a good credit score and my house is bought and paid for because I made sure of it. The government didn't have a thing to do with it and nothing Bush or Clinton or Bush Sr or Reagan ever said or didn't say had a thing to do with it. I did it. Now forget politics and go do the right thing. Work hard and pay your own damn bills.
since when is it the goverments job to bail out everyone who makes a dumb mistake. ittime people wake up and face the music if and when they make a dumb mistake.
Joe U, if the people out there with good credit scores are not smart enough to refinance because their arm is adjusting up it's their own fault.
I agree with the sentiment of the above posts. It is not appropriate for the government to bail out those with mortgage problems.
What do you realistically expect? The federal government to pay your mortgage for you ... or to bring your payments current ... or to renegotiate your mortgage interest rate?
I believe the President is looking out for our economy. Anybody with more than 2 cents in the bank should be thankful.
Is it lip service? No. He wants to do something to keep the industry from getting worse.
If this was simply just bailing out borrowers, then I wouldn't be on board.
Expect Congress to mess it up and add a bunch of pork before signing off on a useless bill.
More Related Questions & Answers...