What percentage of the bad loans are home mortgages?

The government is shelling out 700 billion dollars to buy the bad loans that are putting the big banks in danger. We are told that the bad loans consist mainly of unpaid mortgages (sub-primes etc). So the government is effectively buying 700 billion dollars of housing. If we estimate the price of one house between 100k$ and 350k$, then the government should be acquiring 2 to 7 million houses. That is, unless we are being misled and that these bad loans were made up of a lot more than just home mortgages...


What percentage of the bad loans are home mortgages?
Mostly mortgages. 700 billion is a shot in the dark, as is the ';rescue'; bill. I'm hoping it helps though I'm still against the passage of it. Paulson and Bush with their smug little smiles on convincing our reps to listen to them rather than the people makes me sick.





The government will, in fact, own houses once they buy these assets. The question is, since the mortgages and thus the housing is government owned, what else will they do with it to mess up the economy? Will they pass no smoking bans on the houses they own? Nobody knows exactly what will happen, but the current ideas being thrown around is the government gets a % of the price of the home when it is sold in the future.





It's just a big mess and will turn into a bigger mess now that the government is involved.What percentage of the bad loans are home mortgages?
Maybe you ought to read that bill very closely. over100 billion is already earmarked for pork projects we were promised by Bush would not weigh this bill down. Now a lie is the foundation and since we infused money into Fannie May back in July, they still had major problems, how long do you suppose it will be before they tell us ';oops we underestimated the cost of the problem';? Right, when the dollar is worth a nickel.