even though this is the adjustable rate CONTRACT that borrowers signed into.
Talk about government takeover…
I think borrowers and lenders should sit down and rehash their contracts on their own as it does not serve the lender’s interest to foreclose properties.
I disagree with it, but I think there should be some sort of limit on how much they can raise them for some time.
I think if they freeze the interest rates for 5 years that it may create an even bigger problem when they are able to adjust them… and isn’t interesting that she said for 5 years, that would make her 4 year term look great and on the 5th year if she weren’t to be re-elected then the next person would be left with the mess it could create and they would get the blame as well….
i dont believe anything that comes out of her mouth. I doubt she will win.
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i disagree with Hillary. nonetheless, even if she is able to win and take office, by the time she does that it will be too late for the housing market.
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I don’t agree with that idea, but I do agree with her idea to freeze foreclosures for 90 days or so to allow time for people to meet with banks to refinance.
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Were on the same side on this one. I agree. Makes complete sense.
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It isn’t like it is a contract between a willing buyer and their financial backers. Oh wait, that is exactly what it is.
Liberalism, if you can’t believe it now, just wait.
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I disagree with it, but I think there should be some sort of limit on how much they can raise them for some time.
I think if they freeze the interest rates for 5 years that it may create an even bigger problem when they are able to adjust them… and isn’t interesting that she said for 5 years, that would make her 4 year term look great and on the 5th year if she weren’t to be re-elected then the next person would be left with the mess it could create and they would get the blame as well….
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If she proposed this, it is absolute proof that she is a socialist twit who will push the economy into ruin. However, I don’t see that racist ex-crackhead dirt ball from Illinois doing any better.
Since I was fiscally responsible and put down 20% on my house and have a 5.25% mortgage, will she get mine lowered too? If you can give irresponsible losers the same mortgage rate as someone who is responsible, what is my motivation for staying fiscally sound?
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I think this is a very bad idea. One it sets a very bad precedent. Two, it continues to reward American’s for irresponsibility. I guess all of our welfare programs in general kinda reward irresponsibility. I think of the poor family where neither parent works and they continue to have kids when they can’t afford the 7 they have now. The government gives them more welfare. But I digress…
I wonder how freezing mortgages will affect the already failing financial companies. When they can’t make money back at the rate they were counting on. I think the government needs to take 2053 steps back out of people’s lives.
I guarantee that if Hiliary gets into office, freezes the mortgages and helps people get out of them, she won’t help me pay my mortgage. Oh wait, I was responsible and did my homework when I bought my house and didn’t fall for gimmicky loans and made sure that I could afford my house no matter what with plenty of money left over to spare. People should have realized something was up when a family making 30,000 a year qualified for a loan for 350,000 and could make the payments. A deal that good has to have a hook. You wouldn’t go to buy a brand new car for 150. You’d know there was a hook. I don’t feel to bad for people that were too gullible to figure stuff out for themselves. I was 24 when I bought my first house (in the height of subprime) and could figure it out.
Ok, enough ranting. I am scared of the democrats getting in office.
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Yeah, i’m sure obama will call them and put the love in their hearts to make them help america too, right?
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Hillary interest freeze idea goes against the phyics on how the market pricing works, and even Obama knows that. With Helicopter ben chopping rates left and right it may help enoguh home owners to refinance thier house to keep it. Still, the consquences of the housing problem will be lingering for quite a while comsumer spending will be lower. Goverment probadly subidize some losses to prevent it spreading to the greater ends of the economy, but the goverment will not bail out people that lied on income statements or people that bought 2nd homes on subprime loans. Restructing loans is what is really needed, and Federal Reverse on call to balance out the economic cycle to prevent a deep recession from occuring. Still, if inflation not a problem thier will still be more cuts in the interest rates. Trust me subprime mafia loans will not be handed out even if interest rates are one precent because they have to clean up balance sheets of red.
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me
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I thought it was the job of the Federal Reserve to decide what the interest rates are going to be. Another Clinton assult on the constitution and the system of checks and balances.
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In addition to agreeing, we need a reality check – we consume wastefully and fruitlessly. We produce little, and consume SO MUCH. How many times can the government bail out so many people if they don’t break their addictions?
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