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Originally Posted by jreeves  Exactly 300 billion dollars in possible bailouts doesn't improve the strength of the dollar. So we bailout corrupt lenders while the price of the dollar plummets, its idiotic. |
NBC, a network I simply cannot stand, trying to paint the worst picture of everything they can, had a sample family that the new housing bill will not effect. I guess if you don't already have a reasonable credit rating you will not get the refinancing deal.
I'm pretty sure they wanted to make you fell sorry for this family but they had taken out a $50,000 variable rate second mortgage out in California to do God knows what, and their rate is scheduled to bloom to 12% next year and they said they couldn't do it. The also have run up $40,000 of creditcard debt and have defaulted on two of them, and have two vehicles, a new Toyota 4Runner and a fairly new Minivan. He's a teacher and she';s a hairdresser????? So what's wrong with this picture? Why should we have any sympathy for this family at all who is living a $100,000+ lifestyle on $60,000/yr