Category: bailout

President Bush announced the subprime mortgage rescue plan today. It will freeze those subprime rates for the next five years! That means the guy who signed for that 3% loan is set for the next five years, while I continue paying 6.7%. I’m not the sharpest crayon in the box, but somehow that just doesn’t … Continue reading Let’s reward bad decisions and predatory lending

Excuse me?! How is this fair? I shopped long and hard for a small home I could afford at fixed-rate payments I felt I could handle. I passed on a new, more expensive place that I loved that would have had similar payments — if I had accepted the special this-week-only, no-doc, 3% adjustable rate … Continue reading Mortgage assistance plan unfair to majority