August 12, 2007
Mortgage Defaults: Who Should Pay?
Mortgage Defaults: Who Should Pay?
Thousands of homeowners are on the brink of disaster. Yes, because of risky/aggressive lending practices of the past few years many of these people are one or two payments from a mess. One jump in the Prime rate or other indexes and these people are out of luck.
Perfect timing for the political season. On the right, President Bush has said it is not the Government's job to bail out homeowners who got in over their head. On the left, Hillary Clinton said the Government SHOULD step into help these people.
Either way, we as American tax payers are the one taking it on the chin. If the Government does not help, we pay. If the Government helps, we pay.
Who should take it on the chin? We'd love to hear YOUR opinion. Leave us your comment on this subject below.
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