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Non-Tech : Let's end the national debt. -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Thompson who wrote (58)	7/26/1999 8:42:00 PM
From: TimbaBear	Read Replies (2) \| Respond to of 109

I was closing loans back then too, and we were just coming out of a pretty bad recession and there was a lot of competition for the good credit borrower and that helped drive the rates down. Now there is plenty of borrowing going on but the "A" paper borrower for the most part appears to have reached their comfort zone and more money is chasing the questionable credit borrower and that can't be good for the long term. I've got flyers coming into my office daily advertising 100% purchase money, 1 day seasoning on bankruptcy, 125% refinancing with credit that wouldn't qualify back in 1991. As far as debt reduction and a possible formula, I think KISS works real well....how about match the principal reduction to the yearly interest....if there's 200 billion in interest, put another 200 billion toward the principal....think it would work? I, too, am not concerned about some federal debt but a trillion here and a trillion there soon could add up to some serious money!