I haven't read the bill, but my sense is that only the scumbags will get bailed out and the little guy will lose his house. What incentive do the banks have in renegotiating a mortgage?
--- On Thu, 10/2/08, Kristyne McDaniel <[EMAIL PROTECTED]> wrote: > From: Kristyne McDaniel <[EMAIL PROTECTED]> > Subject: RE: [OT] Loads of pork in bail out bill > To: "'ProFox Email List'" <[email protected]> > Date: Thursday, October 2, 2008, 2:07 PM > 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. _______________________________________________ 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.
