Yeah this caught me by surprise, too. I'd prefer not to use my taxes to buy homes from people who made really dumb financial decisions.
it depends on what the terms will be. The government could simply replace the current mortgage with, say, a 50-year fixed-rate loan at the market rate, which would lower the monthly payments without lowering the value of the asset.
I won't be on the forum tomorrow. I'm going to sell my current house and purchase the biggest, most expensive home I can find in the morning. I figure if being responsible and paying my mortgage on time every month has gotten me here, then I need to break the rules and get the government to help me stay in my new mansion.
you forgot you want to get a negative amortization loan with a teaser rate! greatest no-brainer in the history of man-kind!
I feel like I just woke up in reverso world where McCain is a socialist and Obama is the cost cutting fiscal conservative. what the fuck is going on in this misbegotten country right now?
