Why Should I Have to Help Pay To Bail People Out of Their Adjustable Rate Mortgages?

and trouble they got into without my help?





Should I go buy a nice new house I cant afford and expect for you to bail me out?





Let me know. I would Like to start shopping for a house well beyond my means this weekend, if that is the case.Why Should I Have to Help Pay To Bail People Out of Their Adjustable Rate Mortgages?
It irritates me too. And things are getting even worse. 100% loans are gone. Credit standards have been raised--AGAIN. It is going to be very hard for many people to get a mortgage.Why Should I Have to Help Pay To Bail People Out of Their Adjustable Rate Mortgages?
It isnt the people who got ARM's (Adjustable Rate Mortgage) fault. Most people who have an arm can afford the house. Its when the arm Rests thats when they cant afford it. People are told they are approved for an arm when they were turned down for conventional loans. So the lender tells them pay your payments on time and in two years you can refinance. The trouble with that is like now home values are going down. So two years ago you house was worth 150k now its worth 125k. How are you to refinance with an appraisal of 125k. You dont so you keep making your payments trying to sell and mabe you make it out but for most its foreclosure. It really is a sad situation. I hope this helps you understand. Why should we feed starving children? Why should we house the homeless? Why should we give healthcare to the poor or uninsured?
You won't be paying the bail out. It's the grandkids that will face that music.





You're off the hook.