[gogeo]

What is stopping the mortgage companies from offering to convert all the arms to 30 fixed loans at 4% interest. Nothing, but the fact that it does not help them it helps the home owners. They do not care about the homeowners as they claim. They are running scared...

Oh, man...shades of Chavez. The only thing preventing any businessperson from offering a product at less than the cost of providing it is economic sanity. Again, it's not possible to lend money at a lower rate than cost of funds...and no, you can't make it up on volume.

Your irrational hatred of modern finance seems to have driven you around the bend.

For any reading this thread, who do so in the name of wanting to understand finance and mortgages more...this is not the place to look for knowledge. The poster is advocating financial voodoo.

[Hydroshock]

The point I am making is that for all the screams about helping the homeowners, that they couldn’t care less about them. The screams and renting of cloth is for a bail out of the mortgage industry, Wall Street, and the banks. They want the US gov and/or the fed to make it so they can unload their paper. The way I see it is they stood to make the profits from these risky loans let them eat the loses. That is capitalism in a nut shell. And on a side topic many of the pundits who are screaming such as Jim Cramer have for years railed against the gov. interfering in the markets. But now when it can save their bacon they are all for it. Hypocrites.