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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (137531)	7/10/2012 12:05:08 PM
From: MJ	2 Recommendations Read Replies (1) \| Respond to of 224749

There is another option that no one considers. That is to totally rewrite the loans that trapped people into these losses------rewrite them to stable periods of time with interest rates that reflect reality and don't reset periodically. At one time, we had fixed 30 and 15 year loans-----with fixed payments. The only thing that varied were the local taxes and the insurance. This lent stability to housing and to communities. The variable rate loans were a major part of the problem in the financial area. It is and was a ponzi scheme that sucked in investors who backed loans expecting that they would forever have increasing interest from the banks based on the loans sold via unscrupulous mortgage brokers to homeowners.