- Dec 17, 2009
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Tell me something... why should someone who buys more of a home then they can afford.... win it by default?
by this reasoning.... i should go out and buy a mansion with grounds and a pool.... cry that i cant afford the mortgage....and get to keep it becasue i am defaulting on my loan.
What the hell gives you the idea anyone is being gifted with a free house with this refinancing proposal?
It is extremely ironic you people sit in judgement of others for supposedly being financially irresponsible when you then make statements that demonstrate extreme financial ignorance.
All this proposal is trying to do is LOWER THE INTEREST PAYMENT on a mortgage!
It is not lowering the principal, which was the price they paid for the house. Do you people get that?
The only effect lower interest payments will have is that the banks will make less profit on the loans they made or bought in the secondary market.
Which means that the bank, its depositors, and stockholders are being shafted! DUH!