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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (176849)1/13/2009 2:52:49 PM
From: GraceZRead Replies (1) of 306849
 
I was simply pointing out that declaring a rate by fiat and having a supply of money at that rate are two very different things. I don't doubt that people like me with a really high FICO score who have lots of equity in their home will be able to find a mortgage rate of 4.5%. My interest charges for unsecured borrowing last year were 1.9%.

To think that someone who did "everything right" (NOT!) and still finds themselves deeply underwater should also receive that rate is a very large stretch. I'm not going to lend them money, are you? If wishes were horses we'd all be riding.

This whole line of thinking, that people who tried to do everything right should be rewarded first, comes from a place of people being extremely dissatisfied with policies that the government seems to be pursuing to bailout those who did everything wrong, to bailout all those who completely under-priced risk.
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