posted on Aug, 23 2007 @ 08:13 PM
Originally posted by dawnstar
somewhere, I think, if you look hard enough, you will find one nifty little scam has been played out, and some people have made themselves very
This statement I think sums everything up on this topic the best.
First I do not think the government should do anything to directly bail out defaulted home owners.
If something must be done, then the government should force the lenders, and the banks making the loans to forgive the amount of debt that needs to be
Should any home loans be forgiven, I will take it as an insult for having the responsibility to pay off my loan.
Should the loans be forgiven, the banks and lending institutions will IMMEDIETLY again go after all the people who held the loans that were forgiven.
This statement goes back to paragraph that I quoted.
Dang right all the banks want the government to step in. The banks will get there money, they will in turn go out and loan it again to all those
people who have no visible means to pay it off, and yet again set them selves up to take more homes and other property.
So I say no, don't bail them out. I feel another great depression will be the lesser of the two evils.