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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (361162)	12/3/2007 7:56:24 AM
From: steve harris	Read Replies (1) \| Respond to of 1572780

It's not an issue that will have a highly supported solution. If I use margin in my stock account and get a margin call I can't pay, the govt should help me out? Or just help me out if I have a wife and seven children crying on the local TV channel? There is a lot of commercials running now about getting a fixed rate loan if you're facing getting a reset. Maybe the govt can contact these people and explain it to them, "our way or you're on your on". I feel a lot of them didn't know or care how an ARM works. Of course I still believe it is only an extension of the credit card situation, the people who are get maxed out on their credit cards are the same ones who maxed out on their home loans. There will be something wrong with any solution that happens. Especially with the govt involved.

To: Road Walker who wrote (361162)	12/3/2007 11:39:46 PM
From: tejek	Respond to of 1572780

The freezes would apply only for borrowers who are current on mortgage payments but unable to afford loans when they adjust to higher interest rates — and sometimes dramatically higher monthly payments. The Federal Deposit Insurance Corp. estimates that 1.1 million borrowers are in that situation. If they are late only by 2-3 months, the banks can do workouts with the owners, adding just a few dollars each month to their normal payment until the arrearage is paid off. That's a normal bank procedure.