Bailout...
So, we, as a collective nation now hold or will soon hold mortgages of houses which are worth a great deal less than the mortgage valuations.
Many of the people who signed on for these mortgages have abandoned the houses and have no intention of paying what they signed up for.
Why is it, exactly, that I have to buy the house that they don't want?
On the other hand, if all of this becomes public housing, maybe we can put a dent in the homeless problem. As long as those people weren't part of making the problem... ( too harsh? )
I really don't know what to think about this. I'm going to go for a little google search and post a follow up.
Here is the rollercoaster bit: http://www.flixxy.com/real-estate-prices.htm
Many of the people who signed on for these mortgages have abandoned the houses and have no intention of paying what they signed up for.
Why is it, exactly, that I have to buy the house that they don't want?
On the other hand, if all of this becomes public housing, maybe we can put a dent in the homeless problem. As long as those people weren't part of making the problem... ( too harsh? )
I really don't know what to think about this. I'm going to go for a little google search and post a follow up.
Here is the rollercoaster bit: http://www.flixxy.com/real-estate-prices.htm