acluett
New Member
- 2
I think our leaders need to figure out a way to extend the lengths of the loans approaching default. In other words, if a homeowner approaching default has a 30 year note, then extend it to 40 or 50 years. That gives homeowners some breathing room, lowers their monthly payments (in many cases), and gives them time to stay in their homes and the potential to see the value rise and ultimately make some money.
Let's face it, when you buy a home you are assuming a huge risk. There have never been guarantees that the value will increase. The banks and mortgage backers ultimately agreed to carry these notes; therefore, they share the risk with the homeowner.
Taxpayers should not be responsible for bailing out homeowners. Not now. Not ever.
Let's face it, when you buy a home you are assuming a huge risk. There have never been guarantees that the value will increase. The banks and mortgage backers ultimately agreed to carry these notes; therefore, they share the risk with the homeowner.
Taxpayers should not be responsible for bailing out homeowners. Not now. Not ever.