The only good thing about the bailout is that the taxpayers are buying assets through the borrowing. Those mortgages do have some value.
If more people can keep their homes too, so much the better. The foreclose/resell cycle for recovering funds on mortgages only works to a point. Sooner or later you foreclose on so many people that there's nobody left to buy the houses for a reasonable price. It is just a race to the bottom on price tags. As for me, I want my own mortgage to be renegotiated. I don't know if the bill will help me specifically because of the size of our mortgage, but it would at least make the bank more willing to work with me. As I've said previously, I've been getting charged interest on a mortgage for an unfinished house ever since the bank quit releasing funds to finish the building. It makes no sense for the bank to do that, but I hear it has been happening to others as well. Kristyne McDaniel http://www.kristynemcdaniel.com/blog http://www.mcstyles.com/ Whether you think you can, or you think you can't.... you are right. -- Henry Ford _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
