The Treasury and the FDIC are considering a program that may offer about $500 billion in guarantees for troubled mortgages to stem record foreclosures, people familiar with the matter said. The plan, which might put as many as 3 million homeowners into affordable loans, would require lenders to restructure mortgages based on a borrower's ability to repay.
So these folks get to own a house WORTH MUCH MORE THAN MINE (I know this because if their mortgage were the size of mine, they could pay it with an unemployment insurance check) and PAY LESS for it. George Bush - member of the US Communist Party? Who knew?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment