Retire Soon
Full time employment: Posting here.
- Joined
- Nov 23, 2005
- Messages
- 655
It's not certain, but probable that the Paulson Bail out Plan will become law. A key provision from the Bail out Summary is this:
"The government can use its power as the owner of mortgages and mortgage backed securities to facilitate loan modifications (such as, reduced principal or interest rate, lengthened time to pay back the mortgage) to help reduce the 2 million projected foreclosures in the next year."
Do you think Taxpayers should pay for "reduced principal" on mortgages of Americans who have purchased McMansions ?
"The government can use its power as the owner of mortgages and mortgage backed securities to facilitate loan modifications (such as, reduced principal or interest rate, lengthened time to pay back the mortgage) to help reduce the 2 million projected foreclosures in the next year."
Do you think Taxpayers should pay for "reduced principal" on mortgages of Americans who have purchased McMansions ?