Should the U.S. government step in and back up troubled mortgage loans?

[Paulie]

I'm currently looking at buying. I'm hoping on finding one of the foreclosures and making it a home for my family. It will be a fixed rate. I will settle for nothing else.

Look into pre-foreclosures. Mortgages that aren't yet in foreclosure, but soon will be. More often then not, all parties will come out a winner. You'll get a house for a great price, the people who were about to foreclose and kill their credit will get out of their mortgage, and the bank will not lose much, if at all.

You can get listings online for everything that is available in your area, foreclosure and pre-foreclosure. It's all public information.

 

[Angel Heart]

Will do. I'm hoping on finding a big house at a good price. Portland Oregon has had only one month of decline. Sale prices where down in Feb .5%. Not enough to make a big difference yet. On the good side of things, listings are up 10% and sales are down about 33%.

 

[nibor]

Since when is life fair? This sense that fairness is a requirement is very slippery slope. Who's sense of fairness do we base it on? What one might call fair is to another unfair. I've given up on trying to fight for fairness. Fairness is a childhood dream and nothing more. Now if it was illegal practices, then nail them with the law. If it was with in the law, then you have to pay the price for being stupid enough to go with a bad mortgage.

Yeah it sucks for them that they will lose their house, but the other side is others will find their first houses thanks to it. I'm currently looking at buying. I'm hoping on finding one of the foreclosures and making it a home for my family. It will be a fixed rate. I will settle for nothing else.

In a society with no conscience few win....................but karma is karma ignore it if you dare.

 

[Gunny]

No your right .....BUT IT IS THE GUBMENTS JOB not to allow unfair rip off lending institutional practices!!!!!!!

Since when? You need the government to think for you? I don't see the difference between that and a bail out.

 

[nibor]

Since when? You need the government to think for you? I don't see the difference between that and a bail out.

Gunny if these pricks are there to regulate NOTHING, then why do we need them AT ALL??????????

I'm not saying that mortgage bailouts are any answer, just ethical something for a change!!!!!!

 

[nibor]

Read this.................................http://www.motherjones.com/news/update/2008/03/treasury-dodgeball.html

 

[Gunny]

Gunny if these pricks are there to regulate NOTHING, then why do we need them AT ALL??????????

I'm not saying that mortgage bailouts are any answer, just ethical something for a change!!!!!!

Good point. Why DO we need them at all? Based on this thread, it's to protect us from ourselves which equates to thinking for us.

 

[Angel Heart]

In a society with no conscience few win....................but karma is karma ignore it if you dare.

Dude... I lost everything I own a few years back. I was the most giving person before that. Would give the shirt off my back type. I gave up on that when no one was there when I was at my lowest. I had to pull my family up from that point. They can do it too.

 

[Angel Heart]

Good point. Why DO we need them at all? Based on this thread, it's to protect us from ourselves which equates to thinking for us.

ITA Why do we need them any more?

 

[Paulie]

Dude... I lost everything I own a few years back. I was the most giving person before that. Would give the shirt off my back type. I gave up on that when no one was there when I was at my lowest.

Not that I don't partially agree with you, but when you were giving away shirts, were you doing it expecting something in return in the future, or were you doing it merely out of the kindness of your heart?

 

[acludem]

I voted "no" because I think these crooked lenders need to take up the ass. What the government should do is have some system where these crooked lenders are required to take a lower price for house if it sells rather than foreclose on it. In other words, if you screwed your customers, they can now screw you back.

acludem

 

[The Swamp Fox]

Why should we pay for all the idiots who bought the huge mansions, the way I look at it, we shouldn't have to pay for others mistakes, when we made the right choice, and they screwed their lives up.