So are these forclosures still going on? Are we bailing out the homeowners too or just the mortgage companies? That’s what I was trying to figure out.
Obama wants to bail out the homeowners, but just what did they lose. No down payment, interest only payments. Heck if they weren’t living in their home they would have had to pay rent someplace else.
That one is still up in the air. What I do know is we damned anyway it goes at this point. We can vote to nationalize the market system in congress or just wait until the voters do it after the crash. The funny thing is we are only talking about what 5 to 10 % of mortgages going south? I truly think we can survive without a bail out.