Thursday, December 6, 2007

5 yr. delay in pain for subprime borrowers?

Bush set to unveil sub-prime aid

President George W Bush is expected on Thursday to outline a plan to freeze mortgage rates for five years for homeowners hit by the credit crunch..............But others say such measures would bail out homeowners who made imprudent decisions and delay the necessary correction that home prices must undergo in order to resolve the fundamental problem.

Posted by tick tock @ 11:27 AM (622 views)
Please complete the required fields.



6 thoughts on “5 yr. delay in pain for subprime borrowers?

  • As I noted when this was posted earlier, the idea came from Hillary Clinton, about 3 weeks ago. This is part of the US presidential race, and Dubya has grabbed the idea.

    I don’t think anyone has worked out who foots the bill. I doubt if any of the poor folk caught in the negative equity trap will ever get a cent.

    Reply
    Please complete the required fields.



  • The five year delay in resets certainly puts pay to the claim that they are expecting an early resolution to problems.

    I guess this was an inevitable move really given the severity of the situation, and the probable political ‘blow back’ that will likely result.

    Reply
    Please complete the required fields.



  • The USA & UK are looking more & more like the old USSR, how can this be free market capitalism, isn’t this the start of the nationalization of the housing stock paid for by the American taxpayer.

    Reply
    Please complete the required fields.



  • mrmickey, good point.

    It’s just one mal-investment after another – every day, more and more the US resembles the old USSR. And with this development, individual rights and freedoms, i.e., personal liberty, is eroded. The implication of this is that the US (and, thus, the UK) is becoming a police state. Welcome to the NWO.

    There is a solution, of course (at least in the US, anyhow):

    http://www.ronpaul2008.com/

    Reply
    Please complete the required fields.



  • And after the 5 yrs Mr & Mrs Potato Butt will of course just pick up with the normal payments and everyone will live happily ever after.

    Reply
    Please complete the required fields.



  • Any true right-winger in the states should be up in arms over this – although I suspect, like most right-wingers, they will welcome government intervention with open arms when their own money is on the line.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>