Subject: Re: Count me among the offended by CentralCoaster on 2010/8/6 1:33:57
Quote:
BillH wrote:
Don't use my tax dollars to give these people freebees. If they have an adjustable that went from $1,500 TO $2,000, refi them with a fixed that they can pay and force the banks to make a slight profit instead of a large one.
Debt forgiveness can be as much as a giveaway as a government-backed refi. The banks aren't just looking at the loan balance, that makes up at most 1/3 of the payments.
Debt forgiveness sounds better though to the broke masses, but worse to those who are better off. Whereas refi sounds more responsible, it could cost the same, but not be as appealing for the people he's buying votes from.