Comments on: Bush’s Mortgage Aid – Too Little Too Late? http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/ Tue, 04 Oct 2011 00:10:26 +0000 hourly 1 http://wordpress.org/?v= By: steve jenings http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/comment-page-1/#comment-70149 steve jenings Fri, 02 May 2008 11:40:27 +0000 http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/#comment-70149 The banks are really hurting now, dont re-finance do some over-time instead. The banks are really hurting now, dont re-finance do some over-time instead.

]]> By: Rental Newbie http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/comment-page-1/#comment-66711 Rental Newbie Tue, 18 Mar 2008 03:43:26 +0000 http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/#comment-66711 WOW, I wish I never EVER heard of the term "re-finance". I was fine with my 1100$ mortgage and gave into the "tap into your equity for improvements and cash back"... Lesson learned! ARM loan or LEG loan don't ever refinance your home unless you want to pay these consequences! I blame myself and will deal with it myself but I don't need the government to help me! They squander money just fine without me. WOW, I wish I never EVER heard of the term “re-finance”. I was fine with my 1100$ mortgage and gave into the “tap into your equity for improvements and cash back”… Lesson learned! ARM loan or LEG loan don’t ever refinance your home unless you want to pay these consequences! I blame myself and will deal with it myself but I don’t need the government to help me! They squander money just fine without me.

]]> By: Jason Guthrie http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/comment-page-1/#comment-55810 Jason Guthrie Sun, 23 Sep 2007 23:59:32 +0000 http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/#comment-55810 "Maybe part of the disclosure document should include a brief schedule showing what could happen to a payment if interest rates rise." I love that idea Greg! I think similar "scare tactics" might help get the point across. “Maybe part of the disclosure document should include a brief schedule showing what could happen to a payment if interest rates rise.”

I love that idea Greg! I think similar “scare tactics” might help get the point across.

]]> By: Greg http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/comment-page-1/#comment-55807 Greg Sun, 23 Sep 2007 22:15:00 +0000 http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/#comment-55807 It's definitely too little, but it isn't too late. I fully support the elimination of taxation for "forgiveness," but don't believe it is the federal government's responsibility to bail people out of their debts (or to make it easier to get there). A clear and concise mortgage document would definitely be a step in the right direction. Maybe part of the disclosure document should include a brief schedule showing what could happen to a payment if interest rates rise. Regardless, many people will continue to use lower interest ARMs to buy more house and risk getting over-extended. It’s definitely too little, but it isn’t too late. I fully support the elimination of taxation for “forgiveness,” but don’t believe it is the federal government’s responsibility to bail people out of their debts (or to make it easier to get there).

A clear and concise mortgage document would definitely be a step in the right direction. Maybe part of the disclosure document should include a brief schedule showing what could happen to a payment if interest rates rise. Regardless, many people will continue to use lower interest ARMs to buy more house and risk getting over-extended.

]]> By: MoneyQs » Blog Archive » Bush’s Mortgage Aid - Too Little Too Late? http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/comment-page-1/#comment-55734 MoneyQs » Blog Archive » Bush’s Mortgage Aid - Too Little Too Late? Tue, 18 Sep 2007 02:06:49 +0000 http://beancounterblog.com/2007/09/17/bushs-mortgage-aid-too-little-too-late/#comment-55734 [...] Wendell Sherk, Attorney at Law wrote an interesting post today onHere’s a quick excerptIn a nutshell, the crisis began last month when many subprime mortgage owners were forced to foreclose on their homes. Many of these homeowners entered into “subprime” mortgages, meaning that the rate they were paying was lower than the … [...] [...] Wendell Sherk, Attorney at Law wrote an interesting post today onHere’s a quick excerptIn a nutshell, the crisis began last month when many subprime mortgage owners were forced to foreclose on their homes. Many of these homeowners entered into “subprime” mortgages, meaning that the rate they were paying was lower than the … [...]

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