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Even Obama doesnt get it... if you give the auto makers MONEY it just buys time.. you and i dont have any money to buy a new vehicle....BUT if they GIVE THE PEOPLE THE MONEY then we could all go buy a new car/truck and the auto makers would no longer NEED a bail out.,... HELLO...IS ANYBODY LISTEING - subscribe to my channel and tell me how would you spend your share of the bail out money if Gov gave it to THE PEOPLE
BAILOUTMONEY 2 years ago
That's why we need to have a program that lowers the payments for them before even the person that makes his or her payments has no equity and just wants to walk away for what was your good debt.
Sorry
jimrossman 3 years ago
In the old days people were more responsible and willing to live a little below their means.
If you don't earn enough money that you can reasonably assume you could pay off a loan within 20 or 30 years, you need to pick a smaller loan/cheaper house/lifestyle.
People need to be responsible and live within their means and only buy (take a loan) what they can really afford.
Schemefighter 3 years ago
I think your method could help some people, however I think some people just took on more dept then they could possibly afford. People that have a trailer park income should not buy a mansion. If your income is only 14K a year, you have no business buying a million dollar home. People are too greedy and irresponsible and they are trying to live beyond their means; they will fail, they need to fail, if we try to save them we will all get pulled under.
Schemefighter 3 years ago
Borrowers were told they could buy homes. They trusted who told them they could. Now they are being told they can't have loans. It must feel like they are being stepped on. They were told that at the end of two years they could sell or re-write the loan. I am convinced that if we don't make it easy that we will not be able to help people that could keep there homes. Lots of people had great credit, were self employeed. The current credit crunch allows very little help to anyone.
Thaks again
jimrossman 3 years ago