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Originally posted by patternfinder
because the gubberment don't arange mortgage rates, that's bernanke's job.....
Originally posted by ignant
doubt most who receive an interest cut/plan would even continue paying even the lowered interest-alone on time,
and end up defaulting anyway. its crazy how people waste money on overpriced capital products but when it comes to repaying back loans, credit cards, mortgage and oftentimes even borrowed money from friends or fam, they default indefinately and just hope the collector goes away. thats the way i have seen it, having worked in collection for a bit many yrs ago.
(and they are the ones who agreed to the price and signed their life away, because America's ALL about spending money you don't have and that means not actually ever repaying it)
Originally posted by lokdog
If homeowners were bankers this would be an easy pass. But mortgage laws are complicated and very by state, the logistics of this plan is truely mind boggling.
Why can't the US governmt arrange lower interest mortgage loans to all homeowners...