Home
Photos
Archives
Profiles
Essays
Luke Ford
Lending Tree

Meddling

Frank McEnulty writes:

Homeowners who have normal loans or no mortgages at all - No concern here except for the fact that their tax money will get spent on any bailout and is that really fair? Property owners with subprime loans - This is where it gets complicated because not all of these people are created equal. 1. We have the investors who were out there using the easy credit to buy homes like there was no tomorrow. Should they get bailed out of their bad loans? Most people would say no, because they were taking a risk and deserve what they got because they were being greedy. 2. We have homeowners who have subprime loans who are not in danger of losing their homes because they budgeted properly. Should we make the lender change the terms on their loans because, well in retrospect, they just don't seem fair? Doesn't seem likely and definitely isn't the job of the Federal Government. 3. We have homeowners who have subprime loans who may be in danger of losing their homes, but even this is not a simple category.