A question: who pays for President Bush’s mortgage bailout plan?
When my wife and I bought our home eleven years ago, we had the option to go for a teaser rate or an adjustable mortgage rate. We opted to bite the bullet, get a fixed rate and pay a higher monthly payment for the next 30 years (11 years on, it seems small!). We paid a bit more, but we made what we thought was a sound economic choice.
Now the President is bailing out those individuals who chose for the cheaper option and now find themselves in financial crisis. Who do you think will ultimately will pay for this $350 billion shortfall? Not the mortgage companies. It will be the American taxpayer. In other words, people like my wife and I will end up paying for the greedy and short-sighted financial stupidity of others.
I don’t recall getting a bailout for the large loss on the value of our investments when the stock market crashed in 2000. Why should we pay for this?
Deektater: I am not trying to insult anyone with this question; please afford me the same courtesy
This is not, by the way, a liberal vs. conservative issue. Both Dems and Reps support it. I am on the left, but still support personal responsibility.
Cheers.
he same people who will pay for all of Bush’s spending, the middle class.
Responsible home owners with good credit.
I agree. i am in the same boat as you. Why does it seem like the good and hard working Americans have to flip the bill for the lazy ones and the ones that make bad judgement calls
This will actually save the taxpayers money as the loans will continued to get paid and not defaulted on. I am still against it, it rewards bad behavior and the silly idiots that fell for the bait and switch. It also rewards the S&L’s that made the bad loans which should be punished and allowed to fail, go under, bankrupt… But I **** to see people lose thier homes and be left to government assistance no matter how stupid they were in their haste to buy a home.
I believe it’s the taxpayers.
I agree that RESPONSIBLE people like you and your wife are in effect penalized for making sensible choices when buying a home.
I agree with you!! But the democrats wanted to let the mortgage holders not pay payments for 90 days too.This was headed by Hilliary.Fact
We as good people,good credit and tax payers are s……..d again.
You don’t think for a minute that the bailout is for the people who are going to lose their house do you? It’s for the mortgage companies benefit mostly.
The taxpayers of course. Who else?
This mortgage dilemma has really got everyone hyped up for all the rigt reasons. I have to agree with you. Taxpayers are really the ones on the losing end here while loan companies have all the benefits.