To: econjack
Well, if it's my responsibility as a taxpayer to give a damn about rebuilding New Orleans..then the government can co-sign (guarantee) for the shmuck who sees his interest rate jump to an unaffordable one which will:
1) See him lose his house
2)See the lender incur costs foreclosing (It's expensive)
3) See the investor who funded the 2nd trusts..the 10%, 15% or 20% mortgages get out of the market.
24 posted on
08/08/2007 7:27:52 AM PDT by
DCPatriot
("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
To: DCPatriot
People fail to realize that just because they think "I've got mine" that they are immune to a crash in the real estate market. They don't get it.
The ones that really make me chuckle are the ones that are cheering on a 75% drop in prices (which is more than I think we'd ever see...) so they can get "good deals" on real estate...but fail to realize...if that happened across the board, they too would probably lose their job or otherwise be in a situation where they aren't buying ANY property.
28 posted on
08/08/2007 7:33:30 AM PDT by
RockinRight
(Fred's Campaign: A hell of an opening, coast for a while, and then have a hell of a close.)
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