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In response to
"More and more as they show more and more homeowners lamenting their plight on the news and such I'm thinking..."
by
Cuzzin Todd
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A. the destitute poor who got big homes on bogus loans are already out of the door, B most of the people who might be helped are the ones who would
Posted by
zeitgeist
Feb 21 '09, 10:24
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have had no problems refi IF the housing market didn't tank. Many home owners were sold ARMS when they could have qualified for regular with insurance etc, but the brokers were making bonuses selling crap deals. buyers were told there was no problem, they 'should' save the money now to buy furniture etc and then when values rise they refi into a lower rate with the equity, remember that was working for over a decade.
It makes no sense to toss these people to the streets, with their kids in new or no school.
apartment rates have gone up, especially in the areas hardest hit by forclosures
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